(Corrects lower end of price range)
LONDON May 21 UK holidays-to-insurance company
Saga said on Wednesday that it had narrowed the
price range of its London listing to 185-205 pence a share
($3.12-$3.45), the lower end of the original range, and had
closed its retail offering following exceptional demand.
The new guidance gives the company an equity value of
2.03-2.19 billion pounds, a source familiar with the matter
said. On Tuesday sources told Reuters that the books were
covered for its sale of 550 million pounds of new shares by both
institutional and retail investors, although the allocation to
each has yet to be decided.
($1 = 0.5935 British Pounds)
($1 = 0.5925 British Pounds)
(Reporting By Freya Berry; editing by Clare Hutchison)