The world\’s second-largest internet poker company is understood to be in talks with a number of investment banks, including HSBC and Dresdner Kleinwort Wasserstein, about hiring them to prepare the listing on the London Stock Exchange.
Industry sources believe Pokerstars has annual profits in excess of £100 million and will therefore trade at a profit multiple of around 10. PartyGaming, by comparison, is currently trading at an expected profit multiple of 16.5 for 2006.
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