Craven Street Capital is pleased to announce that it acted as Financial Adviser to the Executive Directors and the Senior Managers of Sabre Insurance Group PLC on its successful IPO on the London Stock Exchange, which priced today at 230 pence per share, giving the company a market value of 575 million pounds ($771 million) at the start of conditional trading.
Sabre Insurance is a successful UK based insurer selling car insurance primarily through brokers but also directly to the public through the Insure 2 Drive, Go Girl and Drive Smart brands.
Based in Dorking, Surrey, Sabre was formed in 1982 and is one of the most successful insurers in the UK, providing brokers and customers with excellent customer service (Source: https://sabre.co.uk).
Please find the Thomson Reuters article below: URL https://goo.gl/pq365E
Dec 6 (Reuters) – British car insurance underwriter Sabre IPO-SI.L priced its London market debut at 230 pence per share, giving the company a market value of 575 million pounds ($771 million) at the start of conditional trading.
The offer comprises 125 million shares, resulting in an offer size of 287.5 million pounds, or 50 percent of Sabre’s share capital on admission, it said on Wednesday.
Conditional dealings in Sabre’s shares are expected to begin at 0800 GMT on Dec. 6.
Founded in 1982, Sabre generated gross written premiums of 197 million pounds in 2016 and intends to maintain its focus on the UK private motor insurance market.
Barclays and Numis Securities Limited are acting as joint global co-ordinators on the deal.