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Hargreaves to float on LSE this summer

Hargreaves Lansdown has confirmed it will continue with its initial public offering of shares and will be listed on the London Stock Exchange this summer.

The deal, expected to complete in mid-May, will comprise the sale of approximately 25 per cent of the existing ordinary share capital of the firm by existing shareholders.

No new capital will be raised as part of the offer, which is expected to raise the group’s profile, boosting new business, and create an incentivisation mechanism for staff.

Citigroup is sponsor to the company and and sole global co-ordinator and sole bookrunner in relation to the offer. Numis Securities is co-lead manager and Lexicon Partners is financial adviser to the firm.

HL has also announced an increased turnover of 35 per cent to £43.3m for the six months to December 31, 2006 with underlying group operating profit rising 58 per cent to £17.2m.


BlackRock brand switch will be a ‘big bang’

The Merrill Lynch Investment Managers’ brand could soon be history, with BlackRock testing the water about a sooner than expected rebrand.BlackRock merged with Merrill Lynch in September 2006, acquiring Merrill’s investment arm in exchange for 49 per cent of the new BlackRock business.BlackRock managing director Richard Royds says as part of the deal, MLIM has […]

FSA’s placement plan casts shadow on IFAs

The FSA’s plans to have members of its staff shadow IFAs at work has met with a mixed response from the industry.The regulator says the main purpose of the placement scheme is to allow FSA employees to experience the sales process at first hand for a few days to enable them to gain a better […]

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


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