07-01-2008 Stockbroker considers offer to float the Tote on London's AIM

Andy Stewart is reportedly considering a bid to float the state-owned bookmaker, with the UK Government retaining a significant stake.

The founder of Cenkos Securities said an accelerated initial public offering would work only if the UK Government revised downwards its valuation of the bookmaker. "The numbers we have run suggest it is probably worth about £260m," said Stewart.