Direct Line reveals 175p share price

The entrance to the London Stock Exchange

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The sale of 450 million shares has raised just over £787m. Parent company RBS Group has still retained ownership of 65% of Direct Line.

Conditional dealings began this morning with unconditional trading on the main London Stock Exchange market due to begin on 16 October.

Commenting on today's announcement, Paul Geddes, chief executive officer of Direct Line, said: "We are delighted with the level of demand institutional and retail investors have shown in Direct Line Group, reflecting the

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