Standard Life Shares Rise
Shares rise 5.4% in first day of trading of the demutualised insurer
11th July 2006
Demutualised insurance company Standard Life yesterday made its debut on the London Stock Exchange, and saw its shares immediately rise in value by 5.4% to 242.5p compared to the flotation price of 230p.
Around a quarter of the company's members sold their shares straight away as part of the flotation process, but 300,000 took advantage of the chance to buy extra shares at a 5% discount over the initial price. Although the extra shares offer was heavily oversubscribed, members and customers who applied to buy up to £2,000 worth of shares will receive the full amount while 70% of applications worth £2k to £50k will be granted.
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Products from Standard Life : Health Insurance |
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