Jupiter sets price for listing

FUND management house Jupiter has set a price range of 150-210 pence for its London listing, valuing the company between £718m and £868m.

It also confirmed that it expected to raise gross proceeds of about £220m by issuing just over 122m new shares.

It had mentioned that figure last month when it announced its decision to launch its initial public offering.

TA Associates and Alpinvest Partners will sell up to 27.1m shares, making up to £48.7m while management and employees will sell between 24.2m and 44 million shares for "an aggregate gross consideration of between £43.5m and £79.2m.

Jupiter was previously a unit of Commerzbank bought in a management buy-out backed by private-equity firm TA Associates.