New Star confirms AIM flotation

According to a statement just issued by New Star, the firm’s directors and employees will sell around 5% of the shares they own – which in turn are worth around 3% of New Star’s share capital - while existing external investors in the firm will be given “an opportunity to realise whole or part of their investment”. No new shares will be issued by New Star, says the statement, but the IPO is expected to be placed through UK and overseas institutional investors (excluding the US). Directors and employees in the company – which from today includes Sir Dominic Cadbury as a non-executive d...