Gartmore IPO share price lower than expected

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Gartmore Group today announced an offer price of 220p per ordinary share for its initial public offering (IPO) on the London Stock Exchange, valuing the company at around £676m.

The company cut its initial price range to 220-250p per share from 250-330p per share, with reports saying it is expecting to raise around £340m rather than the original £400m it hoped to raise in ...

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