Just Retirement reveals IPO share price

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Just Retirement has announces that the offer price for its IPO has been set at 225 pence per share.

The total market capitalisation of the company at the commencement of conditional dealings at 8.00am today will be £1,125 million.

The offer comprises 152,534,950 shares, excluding over-allotment arrangements, representing 30.5% of the company’s issued ordinary share capital on admission.

Rodney Cook, CEO of Just Retirement Group plc, said: “We are delighted investors have responded so positively to the strength of our differentiated business model and proprietary intellectual property.

“We look forward to executing our growth strategy as a listed company and bringing increasing value to our customers and shareholders as we introduce further innovation into the retirement income market.”

Tom Cross Brown, chairman of Just Retirement Group plc, said: “The positive response to our initial public offering shows strong investor confidence in Just Retirement.

“Our listing on the London Stock Exchange is an important milestone for the business and we look forward to welcoming our new shareholders as we enter the next phase of our growth strategy.”

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