The biggest competitor to Omaze in Britain’s prize-draw market is considering a £200m London flotation to raise capital for a string of acquisitions.
Sky News has learnt that Winvia Entertainment Group, which is majority-owned by the billionaire entrepreneur Teddy Sagi, is working with investment bankers at Shore Capital on a potential listing on London’s junior AIM market.
Positive initial discussions have already taken place with a number of institutional investors about an initial public offering (IPO), according to market sources, although a decision about whether to formally launch a process has yet to be taken.
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Winvia operates prize draws and competition websites such as BOTB.com – which stands for Best of the Best and offers homes, cars and cash prizes.
It is understood to be the second-largest player in the sector, behind Omaze.
Research cited by the Department for Culture, Media and Sport earlier this year said that 7.4 million British adults had participated in prize draws and competitions, with the market worth an estimated £1.3bn annually.
Part of Winvia’s valuation aspirations, if it does decide to go public, are based on its proprietary technology platform, sources said on Monday.
If an IPO does take place, the company’s existing shareholders would retain their current investments, with any money raised being from the issuance of new shares to fund acquisitions.
The company is majority-owned by Mr Sagi, the Israeli billionaire who has been involved in a number of British companies, including as the founder of Playtech, the gambling technology group.
Winvia’s management team is also understood to own a stake.
A spokesperson for Winvia declined to comment.