Broker has plenty of access to capital through its private equity investors
The chief executive of Ardonagh David Ross has insisted that the company’s future remains in the private realm.
He added that these days the trend is more companies switch from public to private ownership, rather than vice versa, because there was so uch capital around in the market.
”Invariably when you’re plotting the course of the company, you evaluate what your options are and someone has to ask the question about IPO [initial public offering].
”The board has to discuss it, but no one involved in the running of this business wants to see it in the public domain, because it doesn’t need to be.
”The main reason people go public is to unlock capital. The one thing we’ve got plenty of access to is capital. We don’t need to go public,” Ross insisted.
”Also, if you look at the journey we’ve been on during the last years, imagine how difficult that would be if we were doing quarterly bondholder calls with public shareholders. It would have been impossible.
”The people at the top end of this business have in some shape or form been in the public domain and are very happy not being there now. there’s just no need for it,” he concluded.
Subscribers read more
More than just capital - the private equity firm seeking to grow its insurance portfolio
No comments yet