Peter Wood’s insurer announces price range of between 240p and 310p per share
Esure is aiming for a £1.1bn flotation, it emerged today.
The home and car insurer will release between 146 million and 210 million shares at a value of between 240p and 310p per share. The release will include 20 million new shares, which is expected to raise £50m to repay outstanding debt.
Esure is following the typical path of a floating company, which releases a certain percentage of the firm on the initial listing.
In Esure’s case, its first release will be worth between 35% and 50% of the company. Once calculations are made, it would value the company at about £1.15bn.
The final pricing offer will be announced on 22 March and the shares issued on 27 March.
Esure founder Peter Wood said: “We have worked hard for many years to make Esure a business that can compete at the highest level with confidence.
“Today is a milestone reached through the enormous hard work by the Esure board, executive team and staff. We live and breathe insurance at Esure and look forward to bringing that knowledge, commitment and focus to bear as a premium listed company.”
It's the perfect way to acknowledge hard work, inspire your team, and network with industry leaders.
Crucially, as many of our attendees have done before, you can use your table booking as the perfect, hassle-free Team Christmas Party, combining prestige, celebration, and a memorable night they'll talk about all year!
No comments yet