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| Legoland owner Merlin Entertainments names float price | Legoland owner Merlin Entertainments names float price |
| (35 minutes later) | |
| Merlin Entertainments, the owner of Madame Tussauds and Legoland, has priced its shares at 315p each, valuing the company at £3.2bn. | Merlin Entertainments, the owner of Madame Tussauds and Legoland, has priced its shares at 315p each, valuing the company at £3.2bn. |
| Last month, the company set a range of 280-330p for the share flotation. | Last month, the company set a range of 280-330p for the share flotation. |
| "We are delighted with the strong response from both institutions and retail shareholders to our offer," said chief executive Nick Varney. | "We are delighted with the strong response from both institutions and retail shareholders to our offer," said chief executive Nick Varney. |
| The UK company also operates the London Eye, Alton Towers and Chessington World of Adventures. | The UK company also operates the London Eye, Alton Towers and Chessington World of Adventures. |
| Merlin is selling a 30% stake in the flotation, with the sale raising about £957m for the company and the selling shareholders. | |
| It said that 87.5% of the shares for sale had gone to institutional investors, such as pension funds, while 12.5% went to retail investors. | |
| Retail investors who applied for the minimum of £1,000 of shares have been allocated 317 shares, worth £998.55. | |
| Those who applied for more than £1,000 worth of shares will receive 317 shares, plus 55% of the remaining amount they applied for. |