Online card retailer Moonpig has debuted on the London Stock Exchange (LSE) with shares jumping 25% within minutes of pricing its initial public offering (IPO).
The company floated with a share price of 350p ($4.79) but the stock surged to 440p. Moonpig placed £491.2 million of shares on the market, around 41% of the group, raising gross proceeds of £20 million. The listing price valued the company at around £1.2. billion.
Moonpig is the second-largest listing in the U.K. this year and the first U.K. tech IPO.
Meanwhile, Dr Martens shares jumped 14%, making its stock market debut on the LSE at 370p a share, giving it a valuation of £3.7. billion at the top end of its range after keen investor demand.
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