Shortly before Standard Life (LSE: SL) floated in July, I wrote that the company was “priced to go”, and, sure enough, the share has moved up nicely from the float price of 230p to 268p today. I think the shares are worth holding.
Admittedly, the share has slipped on today’s interim results. The market is worried by news that a higher than expected number of customers are cashing in their policies now they’ve received their share allocation in the float. Indeed, the company has increased “lapse” provisions by £100m in response….