RPT-Saga sets London share price listing at bottom of range

Fri May 23, 2014 4:18am EDT

(Repeats to remove extraneous Reuters code)

LONDON May 23 (Reuters) - Saga, the UK insurance and holidays firm for the over-50s, has priced its London share listing at the bottom of its original range, the company said on Friday, valuing the company at 2.1 billion pounds ($3.5 billion).

Saga's offer will be priced at 185 pence a share and will raise gross proceeds of 550 million pounds ($927 million) in new capital. Half of the new shares have been allocated to retail investors and half to institutions.

Conditional dealings will start on the London Stock Exchange at 0700 GMT. ($1=0.5931 British Pounds) (Reporting By Freya Berry; Editing by Greg Mahlich)