Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Saga narrows IPO price at bottom end of range

2 Comments
Saga narrows IPO price at bottom end of range

Despite announcing ‘exceptional demand’, Saga has narrowed its flotation price at the bottom end of its range.

The over-50s group had been hoping its shares would debut at 185p-245, but today confirmed that the actual band will be between 185-205p after its retail offer closed yesterday.

Saga's flotation is the latest in a string of IPOs which has seen the likes of Poundland, AO World and  Pets at Home come to market with differing results.

However, Andrew Goodsell, executive chairman of Saga, remains upbeat. Hesaid: ‘The retail offer has now closed, showing exceptional demand, and we continue to see strong momentum in the institutional offer.

‘Given our desire to allow customers to play a significant part in the future ownership of the business, we remain very focused on seeking to underpin a positive aftermarket performance in the stock, with the appropriate balance between high quality institutional investors and retail investors. We are therefore narrowing the range to 185-205p per share to support a strong debut.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter