Published: 13:02, 30 April 2014 |
Updated: 14:37, 30 April 2014
Bosses at Folkestone based Saga this morning confirmed the company will be floated on the London Stock Exchange later this year.
It ends months of suggestions that the over-50s holiday company intended to do so.
The move is expected make £3bn for owners Acromas, which also owns the AA.
The company says it is intending to offer shares "in order to raise further consumer and investor awareness of Saga and to provide the company with a capital structure to support its continued growth and development".
It anticipates the first dividend payouts will come in June 2015 with around 25% of the company being free floated.
The minimum stake shareholders will be able to buy in the company is £1,000.
Customers can become shareholders and letters have been sent out to policy holders and personal finance customers since January 5, 2013; anyone who has booked a holiday since January 5, 2011; subscribers to Saga Magazine since January 5 last year and Saga private healthcare customers since last January 5.
Employees are also being offered the chance to buy shares.
Chief executive Andrew Goodsell said: "What began 60 years ago in a small hotel in Folkestone is today one of Britain’s most trusted and respected companies. This is in huge part due to the hard work and dedication of our employees.
"Our customers are at the heart of our brand and I am delighted that they will have an opportunity to become shareholders in the company and to be part of the next stage of our journey."
Every morning at 10am we play you an hour of tunes from the 90s. We call it, #WeLoveThe90s.
Play 'Say It' with Garry and Laura on kmfm Breakfast and you could win £1,000!
Wake up to kmfm Breakfast with Garry and Laura - it's Kent's alarm call.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
This is a brand new online resource covering every aspect of owning and improving a home in Kent and Medway.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Neil Miller, Hever Castle head gardener is new gardening blogger.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.