News Column

PRESS: Saga Sets The Bar Low Amid Fears Over Floats - Independent

May 22, 2014

Samuel Agini

LONDON (Alliance News) - Saga PLC has priced its stock market listing at the bottom of its original range, the Independent reports Friday, in what could be a sign of weakness in the market for initial public offerings.

Saga had said it would price its IPO at between 185 pence and 245p, but according to the Independent, which cited sources close to the company, the over-50s insurer's shares will now be sold at the lower of that range.

According to the Independent, almost 700,000 Saga customers have shown interest in buying shares, but City institutions had been warning that the price was too high.

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Source: Alliance News