Singer & Friedlander hands out profit from Carnegie IPO

Singer & Friedlander, the UK merchant bank, will give the £54m (€86m) it made from the initial public offering (IPO) of Carnegie to its shareholders as part of a £80m special dividend.

Singer & Friedlander cut its stake in the Nordic investment bank from 42% to 32% at the IPO in June, generating a gross return of £54m. This means the group's investment in Carnegie had made £230m, including the value of the remaining stake and dividends.

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