Esure said it expects to be valued at up to £1.3 billion when it lists its shares on the London Stock Exchange.
The motor insurer, which owns Sheilas’ Wheels, the product aimed at women drivers, set a price range of 240p to 310p for the flotation, which will be the largest in the City this year once it is completed this month.
Ahead of an investor roadshow, Stuart Vann, chief executive, said: “Our 2012 results were excellent and investors will clearly look at that and make their own decisions.”
He added: “We will be seeing [investors in] a lot of different markets over the next two weeks so it is a very exciting time for us, very busy but very exciting.”
Esure plans to raise about £50 million by going public, which it will use to pay off debt and fuel growth. Founder Peter Wood will remain as the company’s largest shareholder once it is completed.
Mr Wood said: “We live and breathe insurance at esure and look forward to bringing that knowledge, commitment and focus to bear as a premium-listed company.”
