25th Jun 2014 10:42
LONDON (Alliance News) - Saga PLC Wednesday said that it continues to trade in line with market expectations, just shy of one month since its shares began unconditional dealings on the London Stock Exchange's main market.
Saga shares were Wednesday trading up 1.0% at 171.77 pence, but they remain below their 185 pence initial public offering price.
The company, which sells an array of products to the over 50s, including insurance, holidays and magazines, has been one of several recent listings to drop below their initial pricing amid a cooling market for IPOs.
Saga, the second-largest IPO by initial market capitalisation so far this year behind discount retailer B&M European Value Retail SA, was floated by private equity companies Charterhouse Capital Partners, CVC Capital Partners, and Permira.
By Samuel Agini; [email protected]; @samuelagini
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