Hastings eyes London listing with £180m share sale

Picture: PA
Picture: PA
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UK insurer Hastings has announced its intention to float on the London Stock Exchange, with a £180m share sale aimed at accelerating its growth.

The offer to institutional shareholders is expected to result in admission to London’s premier stock market in October, the company said in a statement.

Hastings, one of Britain’s fastest growing motor insurers, is expected to be eligible for inclusion in FTSE UK indices.

Goldman Sachs Investors will retain a significant indirect shareholding following the floatation and will remain Hastings’ largest shareholder following completion of offer.