Hargreaves Lansdown to float on LSE by mid-May

Bristol-based investments group Hargreaves Lansdown intends to float on the London Stock Exchange by...

Bristol-based investments group Hargreaves Lansdown intends to float on the London Stock Exchange by mid-May, with the sale of about 25% of existing ordinary share capital by holders. No capital is required to be raised as the group is already highly cash-generative, according to the company. The offer will be made to institutional investors in the UK and elsewhere outside the US and to certain eligible existing clients and employees. The move has been planned for over a year, with the company intending to avoid an eventual private equity or institutional firm buyout. No acquisitions or...