June 27, 2019 / 5:18 AM / 5 months ago

Swiss Re sets price range for ReAssure flotation

ZURICH, June 27 (Reuters) - Swiss Re has set a price range of 2.80 to 3.30 pounds for shares in the flotation of its UK life assurance business ReAssure, the Swiss company said on Thursday.

The price range implies a market capitalisation of 2.8 billion ($3.55 billion) to 3.3 billion pounds ($4.19 billion) for the flotation that is due to take place next month.

The offer is expected to deliver a free float of 26% of ReAssure’s issued share capital, although up to 15% more will made available as part of an over-allotment allocation. ($1 = 0.7885 pounds) (Reporting by John Revill; Editing by Michael Shields)

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