Standard Life floated on the stockmarket today with an opening price of £2.40. At there height today, they reached as high as £2.45 as pension fund trustees and other large fund managers purchased shares to rebase their portfolios. At close, Standard Life Plc was at £2.42, up 4.5%.
Our view
This is a fair price for day one. We expect a minor fall over the next few days as the general public people sell shares.