Saga Group, the UK company which offers a wide portfolio of services to customers over the age of 50 ranging from cruises to financial services, will price its initial public offering (IPO) in the bracket of 185p to 245p per share, the Reuters news agency reports.

This would value the company up to £2.5 billion, the report said.

Saga is a major retailer of cruises in Britain and it has two cruise liners of its own. It is currently owned by Acromas Holdings, which again is owned by two private equity groups.