Standard Life could cut flotation price - papers 12th June

According to the paper, the mutual insurer had given an indicative range of 240p-290p a share for its planned float next month. However, tumbling stock markets worldwide have spooked investors and it is likely Standard Life will have to lower its price expectations by as much as 10%. Members have been promised windfalls consisting of a fixed allocation of 185 shares plus further shares dependent on the policies they hold. At the mid-point of the existing range, 265p, policyholders would receive a minimum payout of £490. However, if the share price range is lowered to around 220p-260p, wit...