PE-Backed Car Insurer Sabre Prices £287.5M London IPO

Law360, New York (December 6, 2017, 2:44 PM EST) -- Sabre Insurance Group PLC priced an initial public offering that raised £287.5 million ($384.6 million) Wednesday on the London Stock Exchange, enabling private equity firm BC Partners to trim its holding in Sabre some three years after it bought a controlling stake in the U.K. car insurer.

Dorking-based Sabre sold 125 million shares at £2.30 each, representing the midpoint of its previous announced price range of £2.20 to £2.40. The deal also represents half the share capital of Sabre, which reported market capitalization of £575 million...
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