Forced Flotation Could Be Only Option to Save Standard Life
The Scotsman › January 12, 2004
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Summary
STANDARD Life could be forced into a stock market flotation as the only way of meeting new accounting and solvency rules being introduced by the financial watchdog - just four years after it fought a furious rearguard action to preserve its mutual status.
The Edinburgh-based insurance and pensions giant, the largest mutual insurer in Europe, confirmed yesterday that Swiss investment bank UBS and other finance houses are helping it decide if new regulations will force it to raise fresh capital - and a flotation could become the favoured option.See the full content of this document
Extract
Forced Flotation Could Be Only Option to Save Standard Life
The company conceded UBS was "looking at all the angles available". Analysts believe a flotation could value the business at GBP 4 billion, compared with the estimated GBP 16 billion Standard Life w...
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