UK’s Broker Network Plans to List Shares

March 23, 2004

A report from Reuters notes that the U.K.’s Broker Network Holdings Plc, a network of independent community insurance brokers, is planning to float on London’s junior AIM market.

Reuters quoted a spokeswoman for Broker Network as indicating that the company hopes to raise about £4 million ($7.36 million) from the flotation, after which it would be valued at around £16 million ($29.5 million).

Broker Network is a grouping of over 130 independent community insurance brokers who place all their insurance business with the Broker Network but retain their own trading brand within their local community. AIM is part of the London Stock Exchange.

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