Hargreaves Lansdown set to crash out of Footsie
Hargreaves Lansdown It is about to be kicked out of the FTSE 100 for the first time in twelve years.
Britain’s largest retail investment platform, founded by billionaires Peter Hargreaves and Stephen Lansdown, has seen its value fall by almost a third this year to £3.3 billion. This makes it the lowest valued company in the FTSE 100.
It is now about to be downgraded to the FTSE 250 in the upcoming quarterly index rebalance.
It is likely to be replaced by private equity firm Intermediate Capital Group, which is worth almost £4.6 billion.
The final decision will be calculated based on Hargreaves Lansdown’s share price when the stock market closes on Tuesday afternoon.
Taking a dip: Hargreaves Lansdown has seen its value fall by almost a third this year to £3.3bn
The Bristol-based company was founded in 1981 and first floated on the London Stock Exchange in 2007.
The news comes months after chairman Deanna Oppenheimer announced she would step down after five years in the role following criticism from co-founder Hargreaves.