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
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- Professional indemnity rates set to harden
- Fusion sports team moves into Geo Specialty after Ardonagh sale
- Opinion: Peter Cullum on the value of consolidation
- Brightside targeting £250m GWP within five years
- Aviva aims to disrupt the market with new subscription-style product
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