Just Retirement prices its float

Insurer Just Retirement will price its initial public offering this morning and kick off trading, the latest in a long line of private equity-backed floats in London. The company will price its float at between 215p and 235p. It is understood a surge in demand from investors led banks handling the sale to cover the book within two days, leading to a narrowing of the float price. Private equity firm Permira will eventually sell down all of its stake in the business to public markets.