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The over-50s holiday and insurance firm Saga says a number of people who applied for shares but failed to receive any during the company's flotation are still awaiting a refund.
The company blames "problems within the banking system". High demand meant there were more buyers than shares on offer. Despite that, the price of shares in the newly floated insurance and travel company has barely risen above the original price of £1.85 a share. Saga says shareholder refunds were processed last Thursday but administrators Capita say they've encountered "problems within the banking system".
ApplicationsThe shares were priced at 185 pence, at the bottom of the 185-245p range announced earlier this month, and traded as high as 195p in conditional trading.....Read more here
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