HARGREAVES Lansdown has been valued at £711m after announcing today the indicative offer price range of its shares at 140p to 160p per ordinary share.
The total offer size of 118.6m ordinary shares comprises 25pc of the ordinary share capital of the firm by existing shareholders, including its founders Peter Hargreaves and Stephen Lansdown. The remaining 474.3m shares will be allocated to certain UK-based staff and institutional investors. No new capital will be raised as part of the offer. The firm said it is expected the price at which the offer shares will be sold will be announced, and conditional dealings in the ordinary shares will commence, on or around May 15 2007. Admission is expected to occur and unconditional dealings...
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