Partnership sets range on £400m IPO

Partnership Assurance, a specialist life insurer, on Tuesday began bookbuilding for a London IPO that is set to value the company at up to £1.6bn.

  • 28 May 2013

Pricing was set at 325p-400p a share, valuing the company at £1.3bn-£1.6bn.

That was in line with the most bullish of bankers’ expectations before the deal launched, they said.

Pricing is expected the week of June 10.

The company will sell £120m of new shares in the deal. Management and private ...

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