Saga valuation comes in at £2.1bn
Insurer sets share price at £1.85.
Saga has confirmed that the share price for its flotation will be 185p, valuing the company at £21.bn.
The price, below original expectations of up to £3bn in total, follows the news on 30 April that it would be seeking an initial public offering on the London Stock Exchange. It published the prospectus on 8 May.
The insurer, a specialist in the over 50s market, confirmed that major shareholder Acromas is selling 297.3 million shares but will retain 72% of shares in the company.
Andrew Goodsell
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