ReAssure looks to long-onlies to cover £793m IPO

Canary Wharf from Fotolia 230x150
By Aidan Gregory
04 Jul 2019

After disappointing trading in Airtel Africa, Traton and Global Fashion, there is hope that ReAssure, the UK life insurer, will fare better when it prices its £793m IPO on the London Stock Exchange on July 11.

The IPO is the last major deal left of this season in Europe and will value ReAssure, a division of Swiss Re, at £2.8bn-£3.3bn, implying a dividend yield of 8% to 9.5%.

Credit SuisseMorgan Stanley and UBS are global coordinators on the ReAssure IPO, BNP Paribas and HSBCare bookrunners.

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