Betting shop chain William Hill has unveiled plans for a £1 billion sterling share float to coincide with the World Cup.
The company, which has more than 1,600 betting shops in Britain and offers telephone and online betting, said it planned to raise about £350 million to pay down debt and fund small acquisitions in its betting shops division.
Its owners - private equity groups Cinven and CVC Capital Partners - will sell some of their 90 per cent stake but will retain at least 30 per cent of the business, depending on the price of the share offer.
William Hill finance director Mr Tom Singer said betting firms could make in excess of £250 million from the World Cup, which begins in Japan and South Korea on May 31st and runs until June 30th.
The company attempted to float in February 1999 but its then owner, Japanese investment house Nomura, scrapped the plan at the last moment and sold the business to Cinven and CVC for £825 million.
William Hill joins a growing list of companies planning to float over the next few weeks, despite the lacklustre reception to last week's debut by music retailer HMV Group.
Pubs group Punch is scheduled to float on Thursday, followed by quality control company Intertek Testing next week and energy services firm John Wood the following week.