Prizedraw firm Winvia Entertainment has revealed plans to float in London as the City’s stock market revival gathers pace.

The company, which is majority owned by Playtech founder and billionaire Teddy Sagi (said it plans to raise around £40million through a listing on AIM, London’s junior stock market.

The initial public offering (IPO) could value Winvia at £200million.

Winvia is the UK’s second largest prize draw operator by market share, running competitions to win prizes including houses, cars and holidays.

The company, which is seeking to challenge industry leader Omaze, operates competition websites such as BOTB.com, standing for Best of the Best.

Boss Mihai Manoila said: ‘An IPO would allow us to accelerate our growth strategy, specifically on the UK prize draw business where we see significant opportunities.’