Probability’s AIM call

Mobile gambling services business Probability is seeking to raise just over £4 million from investors (through a placing at 76p) ahead of its anticipated AIM launch later this month.

Evolution Securities is acting as both adviser and broker to the float.

Chaired by Graham Parr – founder and former chief executive of FTSE-listed racecourse operator Arena Leisure – the company is seeking to take advantage of the anticipated boom in mobile gambling.

According to research group Juniper, this market is anticipated to be worth $23 billion annually by 2011 and Probability plans to capitalise on this opportunity by using various licensed and in-house technologies to deliver a range of bingo, casino and lottery games to mobile phone users.

The company, which says it will afford the turbulent US market a wide berth, is expected to join AIM on or around Wednesday 23 August and should attract a starting market valuation in the region of £13.7 million.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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