Annuity firm valued at £1.1bn in flotation
The group, backed by private equity firm Permira, priced the sale of a 30.5 per cent stake in the business at 225p, raising about £280 million after costs.
Just Retirement was previously listed on London’s Alternative Investment Market until it was bought by Permira in 2009.
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Hide AdThe company specialises in providing annuities for people with health conditions such as heart disease, or those who smoke, offering the potential for a higher income in retirement than with conventional annuities.
Chief executive Rodney Cook said: “We look forward to executing our growth strategy as a listed company and bringing increasing value to our customers and shareholders as we introduce further innovation into the retirement income market.”