The German Internet Lottery company is planning to list on the stock exchange within the next 12 months and possibly before the end of the year, depending on capital market conditions.
Tipp24 said an initial public offering would facilitate a higher rate of expansion of the business in Germany and in others European countries, Italy and Spain, where the company is already active.
Over the first half of 2005, the company posted a profit before tax of EUR2.8m, more than quadrupled compared to the same period the year before, while revenues were up 37 per cent to EUR12.2m on a transaction volume which reached EUR100m for the first time, a rise of 43 per cent from the year before.
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