July 22, 2014

Brough: Saga IPO has ‘killled’ off market for future IPOs

The flat performance of the Saga IPO has ‘killed’ the market for upcoming IPOs according to a fund manager. Speaking to the Telegraph, Andy Brough who manages a Schorders mid-cap fund saying that its flat debut ‘probably killed’ the market for new issuance.

The fund manager also echoed concerns that poor market performance of Saga’s shares could damage its customer satisfaction:

“If the customers don’t make money on the shares it will be interesting to see how long they remain customers.”

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