View more on these topics

Hargreaves Lansdown business booms on LSE debut

Shares in IFA and discount brokerage firm Hargreaves Lansdown have soared by more than 30 per cent as the group made its debut on the London Stock Exchange yesterday.

After announcing its intention to float back in January, the shares opened at 160p before rising to 209.5p at the close of play adding some £232.4m in value to the Bristol-based firm.

As of this lunchtime the shares were holding up at 209.6p

The initial offer of 25 per cent of its shares is still in the midst of the grey market, the term given to a new listing for its first three days on the exchange.

The offer also sees the 60 per cent holding held by founders Peter Hargreaves and Stephen Lansdown bolstered by almost £150m with yesterdays close of play giving it a market capitalisation of £991.4m.

Hargreaves Lansdown chairman and co-founder Stephen Lansdown says: “We have been very pleased with the response to the Offer and are delighted to announce the pricing of the IPO and to welcome new investors in Hargreaves Lansdown. We look forward to Hargreaves Lansdown being a publicly quoted company and to continuing to take advantage of the growth opportunities available to us.”

Recommended

Deal won’t impinge on independence, says Gale

Sesame chief executive Patrick Gale is reassuring members that the Friends Provident deal will not compromise their independence.He says product provider ownership of distribution is a consequence of adviser businesses’ capital requirements and is becoming increasingly common.Gale says: “Insurance companies are taking more stakes in IFA businesses and I think it is a natural consequence […]

Skandia pays 88% of critical claims

Skandia paid out on 88 per cent of critical-illness insurance claims totalling more than 181m to 1,920 policyholders last year.Cancer remains the most common claim, accounting for 59 per cent of claims and payouts totalling 90.8m.Fifteen per cent of claims paid out for heart attack, 8 per cent for heart surgery and 7 per cent […]

Charter for confusion

I read with astonishment the press release by the PFS/CII to allow firms, rather than just individuals, to have chartered financial planner status. Not only is this departure misleading for the public, in that they may believe they are dealing with someone better qualified than they actually are, it also dilutes the strength of the […]

Healthcare regulation amalgamation predicted for Gulf states

While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com