Saga Raises $928 Million in IPO Priced at Bottom of Range
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Saga Plc, a provider of insurance and holidays to Britain’s over-50s, raised 550 million pounds ($928 million) after selling shares at the bottom of the range used to canvass investors.
The shares were sold at 185 pence apiece, giving Saga a market value of 2.1 billion pounds, the Folkestone, England-based company said in a statement today. It initially sought as much as 245 pence. The shares erased early gains of as much as