BOLTON Wanderers are expected to make their debut on the Stock Exchange tomorrow with their shares tipped to open at a premium.

The formation of Burnden Leisure plc was being approved in London today at an extraordinary general meeting of shareholders in Mosaic Investments.

Wanderers and Mosaic are coming together by way of a 'reverse takeover' and shares in the enlarged company should be listed on the Stock Market tomorrow.

Analysts suggests they could kick off as high as 70p, which would value the group at £61.6 million.

Promotion to the Premiership, the move to the new Reebok Stadium and a share of the £700 million four-year television deal with BSkyB and the BBC make Burnden Leisure an attractive newcomer to the money markets.

But no new shares are being issued to the public and that means an early scramble could drive the price well above the 51.5 pence, which Mosaic were listed at when dealings in their shares were suspended when news of the takeover was leaked.

The deal will give Wanderers access to around £10 million, which Mosaic has stockpiled after selling off a succession of businesses they built into a mini-conglomerate in the 80s.

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