Hargreaves Lansdown is about to be kicked out of the FTSE 100 for the primary time in 12 years.
The UK’s largest retail investing platform, based by billionaires Peter Hargreaves and Stephen Lansdown, has seen its worth tumble by nearly a 3rd to £3.3billion this 12 months. This makes it the lowest-value firm within the FTSE 100.
It is now in line to be relegated to the FTSE 250 within the upcoming quarterly reshuffle of the indexes.
It is probably going to get replaced by personal fairness agency Intermediate Capital Group, which is price nearly £4.6billion.
The ultimate choice might be calculated by utilizing Hargreaves Lansdown’s share worth when the inventory market closes on Tuesday afternoon.
Taking a tumble: Hargreaves Lansdown has seen its worth tumble by nearly a 3rd to £3.3billion this 12 months
The Bristol-based firm was based in 1981 and first floated on the London Stock Exchange in 2007.
The information comes months after chair Deanna Oppenheimer introduced she would step down after 5 years within the function following criticism from co-founder Hargreaves.