Tuesday 28 February 2017

Shares in motor company AA fall in IPO

Shares in UK motoring firm AA fell 2.4 percent to 244p in conditional trading on the London Stock Exchange on Monday, after the company's offer price of 250p valued the business at almost £1.39bn.

The offer, which is being sold to a management buy-in team and cornerstone investors as well as a free float, allows its private equity owners to sell completely out of the firm.

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