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Pearl, CPP prepare main market float
Wed, 08 Feb, 2012
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Pearl, CPP prepare main market float
Thu, 18 Feb 2010, 12:17:00
<b>Pearl Group</b> and <b>CPP Group</b> today announced plans to list on the main market of the London Stock Exchange. Pearl said it does not intend to raise any cash at the time of the listing in the first half of the year. The insurer, which has a primary listing on Euronext and a secondary listing in London, will change its name to Phoenix Group Holdings. Ron Sandler, chairman of Pearl Group, said: 'The reconstruction last year provided the group with fresh momentum, and the decision to change the name is a reflection of this.' 'The Phoenix brand has been associated with life assurance for over 200 years and carries a proud legacy. It will serve us well as we continue on our chosen path of consolidating closed life funds in the UK.' CPP plans to float next month. The firm provides help to people who lose their wallets or purses, mobile phones or suffer identity theft. Card Protection, Identity Protection and mobile phone insurance are the group's three core products, accounting for the significant majority of total revenue. CPP did not comment on how much money it plans to raise. Interactive learning technology firm <b>Promethean World</b> and <b>SuperGroup</b>, the fast growing UK retailer, also announced that they will list on London's main marker earlier this week, while <b>New Look</b>,<b> Travelport</b> and Alton Towers owner<b> Merlin Entertainments</b> shelved plans to float in London in the previous week.
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