esure shares fell 25% on the first day after its demerger with the price comparison website GoCompare.com. Meanwhile, GoCompare shares fell five per cent in early trading. However, these drops were predicted by analysts. Peter Wood, esure chairman, said, ‘Both businesses will benefit from being able to focus on their distinct strategies, with Gocompare.com operating as a leading UK price and product comparison website and esure Group as a leading UK provider of motor and home insurance.’ The demerger was announced in September last year and approved by shareholders on Tuesday.
Esure's shares fell by 25% on the first day after its demerger with price comparison website GoCompare, whose shares fell by 5% in early trading. The company said it would be "reviewing all options for a potential sale of Esure to raise capital and continue operating as an independent company".