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The first of many leaks to come?

Towergate creates two pl cs and appoints ipo specialist – Postonline.

Post Magazine’s front page lead resurrects the Towergate will they won’t they flotation story and quite right too. Armed with the knowledge that everyone’s favourite consolidator has registered three new holding companies called Towergate Holdings I PLC, Towergate Holdings II Ltd and Towergate Holdings III PLC, the yarn talks about companies house rules and how 50 000 shares of this and £12500 worth of that might mean LSE here we come!

Post Mag is hedging its bets on the subject though. The headline dutifully sticks to the facts saying; Towergate creates two PLCs and appoints IPO specialist, a nice bit of advertising for the lawyers Shearman & Sterling LLP while leaving us to make our own minds up.

The intention if flotation is the aim must be to talk up rates in commercial lines. Given that fact, it’s probably likely we’ll see more conversations of that ilk from Cullum et al in the higher brow business press from time to time…

About Ralph Savage (138 Articles)
Insurance and legal journalist Ralph Savage has written extensively for the financial and professional services sectors, most notably as News Editor of Post Magazine. He ghost writes regularly on behalf of FTSE 250 CEOs, leading counsel and senior professionals including solicitors, insurers, accountants and brokers.

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