Betting firm Flutter has said it is working towards January 29th as the date for its listing on the New York Stock Exchange (NSE), but it will keep its premium listing in London. Formerly known as Paddy Power Betfair, the company is going ahead with a secondary listing in the US but noted that it may “pursue a primary listing in the US in due course”.
According to The Guardian, the group is forecast to generate almost 40% of its revenues from the US market this year.
Earlier on Friday, the company in a stock market announcement said: “Flutter’s premium listing on the London Stock Exchange and inclusion in the FTSE 100 index will not be affected by the addition of this US listing.”
It further noted: “Flutter’s shares will continue to trade on the LSE under its existing ticker symbol ‘FLTR’. From the point of the US listing, Flutter will also trade on the NYSE under the ticker symbol: ‘FLUT’.”
Flutter, which also owns the Sky Bet and PokerStars brands, owns FanDuel in the US.
Meanwhile, Flutter said it had notified Euronext in Dublin of its intention to cancel its secondary listing. It noted that Europe’s STOXX decided to remove Dublin-based Flutter from the EUROSTOXX index from December 18th, adding that it’s listing on the London Stock Exchange will not be affected by the US debut.
“Flutter believes that it is appropriate to maintain just two listings to minimize regulatory complexities,” the company said.
The date for the New York listing was subject to the public filing with the US Securities and Exchange Commission, the company said. The online betting firm has been working on plans to list in the US since the beginning of the year.
