Sunday April 27, 03:37 PM
Cooper Gay to float on London Stock Exchange in Q3; to increase buys - report
LONDON (Thomson Financial) - Insurance and reinsurance broker Cooper Gay Holding is set to float on the London Stock Exchange (LSE: LSE.L - news)
during the third quarter, according to The Financial Sunday Express.
The firm, which is being advised by Collins Stewart (LSE: CLST.L - news) , is one of the largest privately owned insurance brokers in the sector and it is valued at about 250 million pounds according to the report.
However, Cooper Gay, which operates in more than 20 countries, may be worth a lot more by the time it floats thanks to its 'aggressive acquisitions programme the paper said.
As part of those plans, Cooper Gay is looking at buying the aviation, global businesses solutions and reinsurance businesses of rival Heath Lambert. Although talks are understood to be at an early stage, the firm is confident of success, the report said.
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