Hastings prices IPO at 170p per share
Conditional arrangement puts market capitalisation of the broker at £1.2bn.
Hasting announced the pricing of its initial public offering at 170p per share on Friday and trading began this morning at the IPO price but fell to 167p at the time of writing.
The broker said that based on the 170p offer price the market capitalisation of the company will be £1.2bn.
The deal was expected to raise gross proceeds of between £210m and £230m depending upon whether or not an over-allotment option is taken. Hastings is set to receive £182m if gross proceeds from the deal.
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