Admiral IPO begins successfully
Admiral Group has successfully placed its initial public offering of existing ordinary shares to institutional investors. The offer price was set at 275 pence, with shares trading at 283 pence at 8:15am
Barclays Private Equity and XL Capital were among the sellers of 84.1m shares this morning, raising £231m from the IPO.Based upon the offer price, the market capitalisation of Admiral at the
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