Saga share price boosted by a £26m acquisition of Bennetts motorbike insurer January 28, 2015 Shares in insurance group Saga shot up by 10.8 per cent yesterday after the firm announced it had bought motorbike insurer Bennetts for £26.26m. Saga, which specialises in cover for the over-50s, said the deal was in line with its strategy to expand its offering via broker services. Bennetts, which was previously owned by BGL [...]
Saga on track to meet market expectations in full year results December 17, 2014 Insurance firm Saga issued a trading update yesterday and confirmed that the company’s new chief financial officer will take up his role in April 2015. The firm, which specialises in products and services for customers over the age of 50, announced that Jonathan Hill, previously at Bovis Homes Group, had been appointed to the position [...]
After Saga and Toys R Us fiascos calls grow for IPO markets shake-up November 18, 2014 Banks and investors are calling on the City watchdog to probe the behaviour of independent advisers on stock market flotations, fearing the initial public offerings (IPO) market in Europe could become dysfunctional. They argue that advisers are distorting the market by putting pressure on banks’ analysts to put an unrealistically high price on [...]
Saga looks to branch out after turbulent start to life in public September 30, 2014 OVER-50’S holiday-to-insurance provider Saga tried to put its float flop behind it yesterday by planning to move into running old people’s homes and wealth management. The FTSE 250 listed group said it was on the verge of striking a deal with an unnamed wealth manager to provide financial services to its customers. It is also [...]
Saga share price edges up as finance director announces plans to step down just months after its IPO September 30, 2014 Shares in Saga opened 0.2 per cent higher this morning, after its finance director announced plans to step down. Stuart Howard said he will leave the company by next year, to be replaced by current Bovis CFO Jonathan Hill. Andrew Goodsell, the company's chairman, said after more than 14 years in the role, Howard "feels [...]
Saga dips toe into M&A waters with Destinology deal August 13, 2014 Saga, the over-50s specialist, yesterday made its first acquisition since floating earlier this year, buying a 75 per cent stake in online travel firm Destinology . The deal, believed to be worth £20m, comes in the wake of Saga’s listing on the London stock market in May. The purchase will be funded from existing [...]
Banks in firing line after Saga analysts give low price targets July 3, 2014 SAGA shareholders were left scratching their heads yesterday after the bank that helped sell shares to them at 185p six weeks ago said they were worth 177p. UBS, which was one of several banks that brought the group to market, started covering the stock with a 177p price tag, more than three per cent below [...]
Short sellers in dash to bet on Saga share price fall June 9, 2014 HEDGE funds are queuing up to bet on a further fall in the share price of newly-floated companies like Saga and AO World amid renewed scepticism in the new issues market, statistics show. Short sellers, who borrow shares from other investors to make gains when the price falls, currently have close to one per cent [...]
AA speeds up plans for a £4bn London float despite Saga flop June 5, 2014 BRITAIN’S biggest car insurer and roadside recovery firm, the AA, is reportedly set to push on with plans for float that will value the company at around £4bn. The listing will be part of a process known as an accelerated initial public offering by parent company Acromas, which could be announced today according to Sky [...]
Saga nudges past issue price on its first day May 29, 2014 Over-50s insurance-to-holiday provider Saga yesterday joined a small band of newly floated firms trading above their issuance stock price, as it began trading in London. The group, which was listed on the stock market at 185p, rose to 188p during the day but ended up barely above its initial price, closing at 185.25p. Saga, which [...]