esure in £1bn London Stock Exchange Float
- Insurance Group raises £604m on £1.2bn valuation
- Peter Wood, Chairman, esure Group opens trading on London Stock Exchange
London Stock Exchange today welcomed esure Group to open its UK markets, marking the start of unconditional dealings in its shares following its successful IPO.
The Group’s shares were priced at 290p each, valuing the company at £1.2 billion. The offering raised £604 million, making this the largest UK company fundraising on London’s markets this year.
To mark the occasion Peter Wood, Chairman of esure Group, and Stuart Vann, esure’s CEO joined Alexander Justham, CEO at London Stock Exchange, to open trading in London this morning.
Alexander Justham, CEO, London Stock Exchange, said:
“We are delighted to welcome esure Group to open trading on our markets today. London is open for business for ambitious companies and offers them an unrivalled pool of deep liquidity. The IPO market is showing encouraging signs, as more companies access equity finance.”
Peter Wood, Chairman, esure Group, said:
"This is a significant milestone for the Company marking the next phase of growth and development. esure is the largest listing on the London market in 2013 and we are immensely proud of our strong business and its smooth progress to listed status this morning.”
esure Group is a general insurer famous for its motor and home insurance brands, esure and Sheilas’ Wheels. It was founded by one of the insurance industry’s foremost entrepreneurs, Peter Wood, who also founded the last major UK insurer to list on London Stock Exchange.
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Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access and an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages over 200,000 equity, bond and alternative asset class indices.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,900 people.
Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com