"Another float flops as Made.com shares slump
Online furniture retailer prices shares at 200p, leaving it worth £775m - more than a fifth lower than its expected £1bn valuation
Made.com's stock market float was at risk of flopping on Wednesday after the online furniture seller missed its initial £1bn valuation.
The firm priced its shares at 200p, leaving it worth £775m.
Shares subsequently tumbled 8pc on the first day of conditional trading and have yet to rebound.
Made.com joins a raft of online retailers to recently list in London including Moonpig, the greeting cards seller, and takeaway app Deliveroo.
Nick Bubb, an independent retail analyst, said: "The initial public offering of the much-vaunted Made.com has been a bit of a flop, with the shares priced at the very bottom of the range, valuing the business at a mere £775m in contrast to the initial talk of at least £1bn."
Made is expected to raise £100m of new money. Existing shareholders will sell a further £93.8m worth of shares. It plans to use the cash to expand more aggressively in Europe. Unconditional trading starts on June 21."
https://www.telegraph.co.uk/business...h-almost-800m/
Online furniture retailer prices shares at 200p, leaving it worth £775m - more than a fifth lower than its expected £1bn valuation
Made.com's stock market float was at risk of flopping on Wednesday after the online furniture seller missed its initial £1bn valuation.
The firm priced its shares at 200p, leaving it worth £775m.
Shares subsequently tumbled 8pc on the first day of conditional trading and have yet to rebound.
Made.com joins a raft of online retailers to recently list in London including Moonpig, the greeting cards seller, and takeaway app Deliveroo.
Nick Bubb, an independent retail analyst, said: "The initial public offering of the much-vaunted Made.com has been a bit of a flop, with the shares priced at the very bottom of the range, valuing the business at a mere £775m in contrast to the initial talk of at least £1bn."
Made is expected to raise £100m of new money. Existing shareholders will sell a further £93.8m worth of shares. It plans to use the cash to expand more aggressively in Europe. Unconditional trading starts on June 21."
https://www.telegraph.co.uk/business...h-almost-800m/
Comment