Just Retirement £343 million Initial Public Offering, UK

2013

STJ Advisors acted as independent advisor on the Initial Public Offering on the London Stock Exchange of Just Retirement, a specialist UK financial services group focusing on the retirement income market. The offering raised proceeds of £343 million for the company and selling shareholder Permira, representing 30% of the company. The offer price was set at 225p per share, at the mid-point of the price range, which values Just Retirement at a premium to its main quoted comparable on both a ’14 and ’15 PE and at a lower yield.

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