Reuters logo
CORRECTED-UK insurer Saga narrows price range for IPO
May 21, 2014 / 2:15 PM / 4 years ago

CORRECTED-UK insurer Saga narrows price range for IPO

(Corrects lower end of price range)

LONDON, May 21 (Reuters) - 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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below