MRB - Listed today on the ASX
Marginbet Ltd (ASX:MRB) joined the sharemarket lists for the first time today, and the 20c shares opened at 16.5c, traded between 17c and 12c, and settled at 13c.
In the first 15 minutes 421,100 shares changed hands. Marginbet, through wholly-owned subsidiary Portlandbet Pty Ltd, operates an international fixed-odds internet and telephone sports and horse racing bookmaking business.
The company accepts bets on an extensive range of sports and racing events, over the telephone and internet.
Chief executive Mr Stephen Hobbs said Marginbet had already successfully demonstrated growth in both client numbers and monthly wagering turnover, and that the ASX listing would assist the company in building upon that growth.
"We believe there are significant opportunities for growth in the internet gambling space, particularly on an international level," Mr Hobbs said.
"In the coming year we plan to introduce a new sports betting medium known as spread betting or index betting.
"This type of betting is very popular in the UK and Europe, and we are hopeful that it will provide a platform for us to further grow our client base both in Australia and overseas."
"We are pleased with the enormous support we have received from the capital markets through this listing and look forward to growing the business and creating shareholder value over the long term," he said.