Expression of interest ups IFG shares 12%

Shares in financial services group IFG rose by 12% yesterday, on the back of it announcing that it has received an expression of interest in its international corporate trustee services division.

Management at IFG — which is in a “closed period” ahead of the publication of its full-year, 2011results at the end of this month — said it had received an unsolicited expression of interest in the division on the back of recent share movements.

The interest was most notable in Thursday’s 5% rise in IFG’s share price, which wasn’t viewed as being wholly unusual.