NEWS & VIEWS

Global private equity and venture capital news and research

Just Retirement sets share price at 200p to 250p for London IPO

29 Oct 2013

pounds11_sqPrivate equity-backed UK insurance company Just Retirement will reportedly price its IPO at between 200 and 250 pence per share, valuing it at up to £1.25bn.

Just Retirement, which is backed by Permira, began taking orders for its shares today, expecting to complete the sale in the week of November 11, said Reuters, citing two sources close to the deal.

Just Retirement CEO Rodney Cook told Reuters that the company will float at least 40 per cent.

The company expects to sell new shares worth £300m with Permira also set to sell part of its stake.

The company offers specialist life insurance products to people with reduced life expectancies, potentially offering higher annuities than traditional life insurance options.

Permira’s investment was the first by its financial services team, headed by James Fraser, previously of global business consultancy firm LEK Consulting.

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014