Online sports betting firm Betfair has priced its initial public offering at 1300p per share which values the company at 1.39bn.

A total of 16,227,462 shares are being sold - around 15.2% of the total shares in issue.

CEO David Yu said: "Betfair and its management team are delighted that the company has successfully completed its IPO and has now become a listed company.

"We believe we have many opportunities to grow our leading position in the online sports betting and gaming market and we are extremely pleased that new investors share our enthusiasm for the future of the business.

"We are grateful for the support of all our shareholders, old and new, and will work hard to generate further value for all our stakeholders."

Now up and running over 15