UK insurer Saga says planning to raise $927 mln in London float
LONDON, April 30
LONDON, April 30 (Reuters) - British financial services company Saga said on Wednesday that it was planning to float on the London Stock Exchange, aiming to raise net proceeds of 550 million pounds ($927 million) to pay down debt.
Saga, which provides insurance to the over-50s, said that the new capital would cut its debt to around 700 million pounds, with a free float of at least 25 percent including a retail offering to UK investors.
($1 = 0.5936 British Pounds) (Reporting By Freya Berry. Editing by Jane Merriman)
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