Under pressure

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According to Citywire, only two fund managers are willing to support PartyGaming\’s IPO unless the online poker company comes to market at a lower price.

Most fund managers don\’t understand why PartyGaming needs to float, as they don’t need cash, or they are not sure about the online poker business, which has 80% of its customers from a country where the activity is illegal.

Shares in Empire Online closed today at 164p, still below their IPO\’s price of 175p.