View more on these topics

Hargreaves Lansdown heading for FTSE 250

Hargreaves Lansdown shareholders are set to share a windfall of up to £175m after the company confirmed its intention to float 25 per cent of its shares on the London Stock Exchange next month.

The share offer, which has been made to institutional investors and some clients of Hargreaves Lansdown, will see the firm join the main market as a FTSE250 company valued at £650m-£700m.

The majority of shares will be sold by founders Peter Hargreaves and Stephen Lansdown, who own 80 per cent of the company between them. Shares will also come from current and former employees together with the employee benefit trust. No new capital will be raised from the offer.

The flotation will restrict senior management to selling 25 per cent of their post-flotation shares on announcement of the group’s annual results on June 30 each year from 2008 until 2011.

Hargreaves and Lansdown will retain the majority share in the company although Lansdown is selling a bigger stake of the business. Hargreaves has committed himself to the company for at least the next 10 years. No one person or company can take the entire 25 per cent stake being floated.

Hargreaves says: “It is an impressive achievement that we have turned a business that started in a bedroom back in 1981 into a FTSE 250 company. If anything, it underlines that wrap is the right business model.”

Rensburg UK mid-cap growth trust manager Paul Spencer says: “It looks like being a company that merits close attention but we will not buy it solely on its past success. It does make a change that I will go and see them rather than them seeing me.”


BlackRock’s big in Japan

Just when you thought that morale at bigger firms is not quite what it is cut out to be, the Diary is here to prove you wrong.

ABI wants DC contracting out revenue to encourage private saving

The money saved from abolishing contracting out of defined contribution schemes must be ploughed back into the industry to encourage private saving, says the Association of British Insurers.In a research paper released today, the ABI says a cash-flow benefit of £1.6bn a year will be created by the abolition of contracting-out for DC schemes.The ABI […]

Offshore amnesty could bring in billions for Treasury

Tax specialists say the offshore amnesty announced today by HM Revenue and Customs could bring billions of pounds into the Treasury.It is estimated that up to 100,000 people could be affected, generating £5bn in tax for the Treasury.The amnesty is for UK taxpayers with undisclosed offshore bank accounts who have a limited period of time […]

Deadlines were made to be broken

I keep meaning to stop going on about pension term assurance but then something else happens – the latest being the extension of the deadline for pipeline business.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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