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Saga shares begin unconditional trading on London Stock Exchange

By Chris Price

After a lacklustre launch last week, Saga shares showed the slightest of increases on its first day of unconditional trading on the London Stock Exchange.

Shares in the over-50s holiday and insurance company were changing hands at 186.25p as of 2.49pm, having closed on 186p the day before.

The Folkestone-based firm floated with a wimper last week during conditional dealing, which allows banks and brokerages to trade shares between themselves to stabilise the initial public offering’s price.

Saga is based in Folkestone
Saga is based in Folkestone

It floated at 185p last Thursday, at the bottom end of its original estimate of 185p to 245p, which valued the company at £2.1bn.

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