£2.5bn IPO target is missed

Saga has set the offer price for its initial public offering (IPO) at 185p, valuing the company at £2.1bn.

This is below the initial target of £2.5bn.

Executive chairman Andrew Goodsell said: “”We have been very pleased with the level of demand for Saga shares from both retail and institutional investors, with the offer subscribed several times over.

“We are delighted to have so many of our customers as shareholders and to have a high quality group of core institutions who we believe will be long-term supporters of the business.”

Acromas, Saga’s major shareholder, is selling 297.3 million shares, but will retain a 72% stake in the company.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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