Shares in Saga plc, the UK based company that offers a wide range of services from travel to investments to over 50s, has floated on the London Stock Exchange this morning at 185p per share, the bottom of its 185p to 245p indicated range.
The company has market capitalization of £2.1 billion following its flotation and it raised £550 milion in the process.
Saga is a major retailer of cruises and its Saga Cruises unit has two ships of its own.
The London market has seen several initial public offerings in recent weeks and toda four new companies said they plan to seek listing on the market. However, some others have pulled out from going public under the current trading conditionbs.
