Partnership covered day after setting range on £400m float

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. The deal was covered within its first day.

  • 31 May 2013

Pricing was set at 325p-400p a share, valuing the company at £1.3bn-£1.6bn. Bankers announced that the deal was covered within the range on Wednesday morning.

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. ...

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