Royal & Sun Alliance raises cash in €750m flotation

Embattled insurance giant Royal & Sun Alliance today announced it had freed up £540m (€750m) from the flotation of Promina, its Australian and New Zealand business.

Embattled insurance giant Royal & Sun Alliance today announced it had freed up £540m (€750m) from the flotation of Promina, its Australian and New Zealand business.

Shares in Promina began trading today on the Sydney stock exchange after R&SA successfully completed the biggest initial public offering (IPO) in the world so far this year.

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