Prudential has today announced it plans to delist Egg, its online bank, from the London Stock Exchange next month once it has bought back the remaining minority shareholdings.
In an official statement released today, Prudential says the life assurance group now owns 95.7% of the company and intends to delist on or around February 20th 2006 once it has at least 80.6% of the remaining minority shareholder approval. Each Egg share is worth 124.4p as the price set on Friday 20th, says Prudential whereas Egg’s starting price was 160p when floated on the LSE in 2001. IFAonline
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
