888.com Sets Float Price

UNITED KINGDOM -- Online gaming firm 888 has set the price range for the planned sale of its shares on the London market at between 162-212 pence per share.

"The range will give the company a market value of between £546.1m and £714.6m ($1bn-$1.3bn) when it floats its shares later this month.

"The Gibraltar-based group runs several online sites, including Pacific Poker.

"…When 888 first announced its attention to float its shares, the listing was expected to give the firm a valuation of at least £700m.

"…As it announced its intended share price range, 888 said that net gaming revenue from its casino business was up 14.2% in the first half of 2005 compared with a year ago…"