Hargreaves Lansdown valued at £650m

The Bristol-based firm, one of the UK’s largest sellers of investment products with £8.3bn assets under administration, this morning confirmed it will float on the London Stock Exchange (LSE) next month. It is still too early for any indication of IPO share price, although thist is expected within the next couple of weeks. According to the statement issued, the initial offer period (IPO) should be completed by mid May 2007 and will see around 25% of shares are being sold by existing shareholders – including its founders Peter Hargreaves and Stephen Lansdown – while the remainder will be...