Hargreaves Lansdown is set to be kicked out of the FTSE 100 for the first time in 12 years.
The UK’s largest retail investing platform, founded by billionaires Peter Hargreaves and Stephen Lansdown, has seen its value tumble by almost a third to £3.3 billion this year. This makes it the lowest-value company in the FTSE 100.
It is now in line to be relegated to the FTSE 250 in the upcoming quarterly reshuffle of the indexes.
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 by using Hargreaves Lansdown’s share price when the stock market closes on Tuesday afternoon.
Taking a tumble: Hargreaves Lansdown has seen its value tumble by almost a third to £3.3 billion this year
The Bristol-based company was founded in 1981 and first floated on the London Stock Exchange in 2007.
The news comes months after chair Deanna Oppenheimer announced she would step down after five years in the role following criticism from co-founder Hargreaves.
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