Jupiter to float next month; Manager valued at up to £1bn

Jupiter Asset Management has unveiled plans to list on the London Stock Exchange next month, which could potentially value the group at up to £1bn.

The manager expects to raise gross proceeds of approximately £220m from a new share issue in the June flotation - split between institutional investors in the UK and globally, as well as retail investors in Britain. Certain Jupiter employees also expect to sell some of their existing shareholders. The FT reports the deal could value Jupiter at £1bn and could net more than £500m for the group's 500 staff - including CEO Edward Bonham Carter and high profile fund managers Tony Nutt, Philip Gibbs and John Chatfeild-Roberts. TA Associates, the US private equity firm which backed Jupter...