The FT claims that bankers handling the transaction have confirmed the news today. This pricing will be at the lower end of its original range of between 185p and 245p.
At 205p per share, Saga’s market capitalisation would equate to approximately £2.2bn.
Reuters also claims that Saga is keen to avoid its share price falling sharply following flotation (as experienced by Poundland and Just Eat) and has therefore taking a more cautious approach to its IPO pricing.
Dealing in Saga shares will happen from 23rd May onwards.