Car insurer’s 1900 employees,founder Neil Utley and investor Goldman Sachs will share a windfall from flotationBankers are predicting a revival in stock market flotations in London after Hastings, the car insurer, or announced it intends to raise £180m from an initial public offering,valuing the group at up to £1.5bn.
The Hastings float could earn the investment arm of Goldman Sachs, a shareholder in the commerce, and a return of £100m with a matching windfall for a group of investors led by the company founder,Neil Utley. Continue reading...
Source: theguardian.com