Possible Return to FTSE For 3i

Private equity group 3i is preparing for a possible re-entry into the FTSE 100. The re-entry would be a major triumph for chief executive Simon Borrows, who took control of the group in May 2012.

shareprices.com - Monday, May 26, 2014

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Since Borrows took control of the company it has enjoyed a marked improvement in performance, achieving a market capitalization of more than four billion pounds. It is well on track to enter the FTSE 100 during the next review, which is set to take place on June 4th.

Another company set to re-enter the FTSE 100 is Intu Properties, the owner of several shopping centres in the country. If the two companies maintain their current prices, then they should re-enter the FTSE at the expense of the industrial buyout specialists Melrose and the bookmaker William Hill.

The two companies were both in the FTSE 100 in the past - 3i was pushed down to the FTSE 250 in 2011, and Intu lost its top flight status in March 2013. Borrows has done a good job turning around 3i since he took over the company, closing offices and cutting jobs to lower the company’s debts and increasing their share price by 136.9 percent. The turnaround he has achieved has been impressive, and analysts believe that if the company makes it into the FTSE 100 once again, then as trackers buy in to the action their share price will climb even further, bringing the company back up to its former days of glory.


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