Saga ready for £3bn flotation

 
Michael Bow
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INSURER Saga is expected to unveil its plans to list on the London stock market as soon as this morning, with the firm due to join the market’s insurance sector rather than the leisure portion of the exchange.

Concerns had been raised it would seek to be classified as a leisure business to get a more attractive valuations but it emerged last night that it was likely to list in the insurance sector. The details of today’s listing, first reported by IFR, is also understood to include a big retail share element.