View more on these topics

Cazenove to go public

Cazenove, one of the oldest and most powerful City firms is to become a public company after 177 years of private status.

The firm which acts as a broker for many of Britain’s biggest companies, will seek a £1.5bn flotation on the London Stock Exchange in 2002.

It hopes the move will raise capital so it can expand on the continent where it already earns more than a third of its broking commissions.

In preparation for the flotation,10 per cent of the company will be sold off next year and 20 per cent offered as share options to its 1,170 staff.

The decision to float on the stock market was agreed last weekend at the first ever meeting of the firm&#39s 80 partners.

Cazenove senior partner Mark Loveday says: “The move is evolutionary and will help us to continue to be independent, which is what we cherish most.”

Recommended

Woolwich – One Year Fixed Rate Bond

Monday, 27th November 2000.Type: High interest account.Minimum-maximum investment: £500-£500,000.Interest rates: 6 per cent gross a year, 5.84 per cent gross a month.Term: One year.Offer period: Until further notice.Withdrawal penalties: No withdrawals permitted during term.Tel: 0800 222200. 

[Technology] LifeBase lines

LifeBase UK is a fresh face in the marketplace but it hails from a company with a proven track record. LifeBase Off shore, launched in 1997 as ProBase, was an immediate success with product pro viders. LifeBase Offshore was quickly taken up by 17 international life providers, including the offshore companies of operations such as […]

Stakeholder-friendly GPPs from Axa

Axa Sun Life is launching two stakeholder friendly group pension products plus seven lifestyle retirement funds to run alongside the products. Axa says its new Saver group plan has a maximum charge of 1 per cent and is suitable for both direct offer and advice based sales. While the Axa Investor product offers a wider […]

Cazenove & Co to float and boost IFA business

Cazenove Fund Managers is looking to use the company&#39s flotation to boost its presence in the UK IFA market. Cazenove & Co, which is a partnership, said on Monday it will float on the London Stock Exchange by the end of 2002. It is expected to be valued at around £1.5bn. The fund arm mainly […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment