View more on these topics

Hargreaves Lansdown valued at £759m

Hargreaves Lansdown has today announced that the offer price for the initial public offering of its ordinary shares has been set at 160 pence per share setting its market value at £759m.

The offer comprises of 118m existing ordinary shares of which 79m shares have been allocated to institutional investors and 39m shares have been allocated to certain eligible existing clients and employees of Hargreaves Lansdown.

The offer shares represent in aggregate approximately 25 per cent of the existing ordinary share capital of the company and a total offer size of £190m.

Conditional dealings are expected to commence on the London Stock Exchange at 8.00am today. Unconditional dealings are expected to commence on the London Stock Exchange at 8am on May 18.

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.”

Peter Hargreaves and Stephen Lansdown will together own approximately 60 per cent of the company following admission.


Recommended

Sesame advisers split over Friends Prov deal

Sesame advisers are divided over the firm’s acquisition by Friends Provident with some fearing it will compromise their businesses and others believing it will not make a difference.

The rebate risk

Margaret Jago, technical manager at Aegon Scottish Equitable International, considers why the Treasury took action over commission rebating on offshore bond business and why some life offices have welcomed the move.

Lighthouse launches commercial lending service

Lighthouse Group has launched a commercial lending service to its 600 advisers. The group sees commercial lending as of growing importance for IFAs and says the opportunity is opening up to steal market share from the banks due to their ability to source lending from a number of providers. Lighthouse has agreements in place with […]

IFAs called on to back factory gate pricing

Advisers are being called on to embrace the Association of British Insurers’ proposal to move to factory gate pricing as a way of adding more value to their businesses and improving the industry’s reputation.Speaking to a packed audience at Money Marketing Live in London last week, Royal London chief executive Mike Yardley said he believes […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]

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