Jupiter's management unsure over timing of flotation
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Your support makes all the difference.Jupiter, the fund manager, will publish the prospectus for its upcoming £220m public listing next week, amid concerns inside the firm that it could be selling the stake too cheaply.
The firm, led by Edward Bonham Carter, brother of the film star, Helena, will begin a series of meetings with investors on Tuesday.
Although there is expected to be widespread support for the float among institutions, there is uncertainty among senior management at Jupiter as to whether the firm should proceed with the listing, given market conditions.
"This is a great company, so there is no suggestion the deal won't get away," said a source close to the listing. "The question is whether it gets away at the right price in these markets. Some people within the firm think that they should wait. Some think that it should be pulled for now."
More than 90 per cent of Jupiter's staff will receive a windfall following the listing. They will be allowed to sell up to 20 per cent of their holdings, which will be subject to a phased three-year lock-in. Jupiter's management will be hoping the float proves more successful than that of rival Gartmore, which has plummeted in value since its hurried stock market debut last year.
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