Hargreaves unveils IPO price range

The investment adviser firm says the indicative offer price range has been set at 140p to 160p pence per ordinary share with a total offer size of 118.6 million shares, implying gross proceeds of approximately £178m. Hargreaves says market capitalisation for the company will be £711m based on the 474.3 million ordinary shares which will be in issue immediately following admission. The offer will comprise the sale of 25% of the existing ordinary share capital of the firm by existing shareholders, including its founders Peter Hargreaves and Stephen Lansdown. The remainder will be alloca...