Institutional investors testing the waters as Direct Line Group floats
Some institutional investors are taking a 'suck it and see' approach to the Direct Line Group float, assessing how issues facing the motor insurance sector affect the firm's share price before taking a slice for themselves, according to analysts.
Having launched a third of its overall stock at 175p in conditional trading last Thursday, giving the company a market capitalisation of £2.63bn, the price had risen to 188.6p a share by 5pm on
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