Hargreaves Lansdown has this morning confirmed it will float on the London Stock Exchange next month.
According to the statement issued, the initial offer period (IPO) should be completed by mid May 2007m and will see around 25% of shares being sold by existing shareholders – including its founders Peter Hargreaves and Stephen Lansdown – while the remainder will be allocated to certain UK-based staff and institutional investors. Executive directors and senior managers are expected to retain “a significant shareholding” in the firm post-flotation and will then be able to sell up to 25% of their holding each anniversary of flotation until 2011, having committed to hold onto stocks for four y...
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