Jupiter sets range for market debut

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The Independent Online

Jupiter, the fund manager which is on track to list on the London market, is eyeing a valuation of between £718m and £868m with its debut.

The firm, which is led by Edward Bonham Carter, plans to sell its shares at between 150p and 210p apiece. The fund manager also confirmed yesterday that it expected to raise gross proceeds of about £220m by issuing just over 112 million shares as part of the initial public offering.

The listing plans come against the backdrop of increasingly volatile conditions on stock markets around the world. Last month saw sharp sell-offs in both the City and on Wall Street as investors, rattled by sovereign debt problems in southern Europe, backed away from equities.