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Gartmore may have IPO before Christmas

Fund manager Gartmore is being groomed for a stock market flotation that could take place before Christmas, according to a report in the Times.

Parent company Hellman & Friedman, an American private equity house, has appointed Morgan Stanley and Citibank as joint bookrunners ahead of an initial public offering. 

A value on the business has not been established but the report suggests it is likely fall below the £1.5bn mooted in July 2007 when a flotation of the firm was previously discussed. 


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