Direct Line launches early

12 Mar 2013

The UK deals keep coming. Royal Bank of Scotland is the latest seller in the blocks market with a £500m sale of up to 16.8% of Direct Line Insurance Group after its IPO bookrunners waived a lock up two weeks early.

The deal for 229m shares plus a 10% greenshoe was launched with reference to market and the leads will be hoping for the same type of strong response that other agency blocks have received over the last week or so.

Goldman Sachs, Morgan Stanley and UBS are joint bookrunners ...

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