Saga IPO Grey Market Guide
| 23-May-14 |
[1:27pm] Saga IPO Hits Lowest Target Price
In this quick trading video, IG take a quick look at how some Saga stakeholders might hold onto their shares for now.
Update by 
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| 12-May-14 |
[3:28pm] Saga IPO Grey Market Update
Looking at the screenshot of the Financial Spreads prices below, it looks like there's a little pressure to the downside on the Saga IPO grey market.
The chart above is showing the mid point of the market which has only been running since 7 May.
After an initial burst of enthusiasm, the market traded higher but dropped on Friday to 280-310, i.e. valuing the firm at £2.80bn to £3.10bn.
The drop was probably on the back of the announcement that, although there's been quite a bit of interest in the IPO, the company may release more shares for the IPO than previously anticipated.
Update by Jacob Wood, Editor, 
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| 09-May-14 |
[9:10am] Saga Clarify IPO Dates
Unconditional trading in Saga will start on 29 May, until then, as mentioned below, a number of firms like Financial Spreads are offering grey markets on the IPO.
The grey market is currently priced at 290 - 320.
For more details on the Saga IPO also see Saga share offer.
Update by Jacob Wood, Editor,
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| 07-May-14 |
[5:46pm] Saga IPO Grey Markets
A number of spread betting companies are now offering IPO grey markets on Saga:
(other firms might also be offering a market).
How Does the Saga Grey Market Work?
Looking at Financial Spreads, their market is based on the market capitalisation of Saga at the end of the first day of trading.
The first day of trading is the first day of unconditional trading, i.e. when Saga officially list on the London Stock Exchange.
The market is currently at 315 - 345, where each point represents £10m.
Therefore, Financial Spreads are estimating that the Saga market cap, at the end of the first day of trading, will be £3.15 - £3.45bn.
That is certainly higher than a number of newspaper reports, which are putting the valuation in the £2.5 - £3bn area.
Of course, the good thing about spread betting is that you don't have to back a market to move higher. You can also short a market, in this case you'd short it at 315, i.e. you'd be spread betting on the market cap to be lower than £3.15bn.
Update by Jacob Wood, Editor,
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'Saga IPO Grey Market Guide' edited by Jacob Wood, updated 22-Feb-17
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Saga IPO Grey Market Guide
There are a number of Saga grey markets, these are based on the Saga market cap at the end of the first day of trading. The current grey market is priced at... » read from top.
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