July 23, 2014

Saga makes a flat debut on the stock exchange

Saga made a relatively flat debut on the stock exchange as the Saga share price closed at its float price of 185p per share. Shares in Saga made as much as a 5pc gain in early morning trading to reach 195p per share, but soon fell flat back to the original float price of 185p, where the shares closed for the day.

Saga had planned to offer its shares to the market for as much as 245p per share, but soon scaled back its offer price to the lower-end of 185p as it wanted to ensure its shares got off to a good a start and avoided sharp plunges following flotation as experienced by the likes of Poundland and Just Eat.

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