Arron Banks is planning to float Eldon Insurance on the London Stock Exchange early in the New Year according to reports in the Mail on Sunday.
The newspaper revealed that the float could value Eldon at £250m.
According to the report Banks told the Mail on Sunday that the business was expecting full year profits for 2017 of £24m to £25m
Banks told the paper: “That equates to an initial public offering of £250million. But we’re growing very quickly too.”
Eldon’s results for 2016 revealed i
- £500,000 Gallagher fraudster jailed for 34 months
- Ardonagh sells remaining Broker Network stake in £30m deal
- Interview: Staysure’s Ryan Howsam
- The Burley Group buys Grace Corporate Insurance Services
- Car insurance premiums rose 8% in 2017
- Stuart Vann out at Esure
- Lark and Aston Scott to rebrand as Aston Lark