|Online gaming firm 888.com has seen its shares gain 4.6% in early London trade, after launching at 175 pence, a price valuing it at around £590m ($1bn).|
Institutional trading started on Thursday, with full trading to begin on Monday.
The launch price of 175p was at the low end of the indicated range. When it initially unveiled its float plans, 888 indicated it was preparing for a valuation as high as £800 million.
The change in value was related to the share collapse of rival PartyGaming.com which lost more than a third of its value.
John Anderson, chief executive of 888, remains confident: 'We have a clear strategy for creating sustainable shareholder value by becoming the market leader in the online gaming industry and continuing to provide our members with a comprehensive range of gaming activities in a secure and trusted environment.'