logo-loader

New listings revel in float frenzy

Last updated: 09:52 27 Feb 2014 EST, First published: 10:52 27 Feb 2014 EST

stock_market_screen350_530f5cd121046

Online appliances retailer AO World (LON:AO.) is just one in a long list of companies to have made a strong debut on London’s stock market in 2014.

The Bolton-based business floated at 285p a share, valuing it at £1.2 billion, but the stock raced up to 378p on the first day of dealings.

But AO World’s gains have been outstripped by other recent flotations, which have made both the founders and investors a quick buck.

Of the eight IPOs so far this year, five have enjoyed strong gains, one is trading flat, while only two have edged slightly lower.

Actual Experience (LON:ACT), behind a digital supply chain analytics tool, has been the most impressive new listing. It began life on AIM two weeks ago at 54.5p, but is already changing hands for 202p, which works out at near-fourfold increase.

Parcel distributor DX Group (LON:DX.) welcomed a 30% rise on Thursday when it began trading, while CityFibre Infrastructure (LON:CFHL), which provides fibre optic infrastructure to towns and cities, is up around 12% in just over a month.

German commercial real estate group Summit Germany (LON:SMTG), which joined the stock market yesterday, has risen a touch, as has tidal power turbine developer Atlantis Resources (LON:ARL).

Companies that went public late last year have also fared well. Action Hotels (LON:AHCG), which is setting up three-star hotels in the Middle East, is up 14% since December 23, and Kodal Minerals (LON:KOD) is up at 0.89p after placing shares at 0.7p in its IPO on December 30.

Off-licence and convenience store chain McColl’s (LON:MCLS) has made minor losses since listing on Tuesday, kicking off what is likely to be a busy period for retail floats.

Poundland has unveiled plans to follow in its footsteps, while House of Fraser, Pets at Home, Game and The Card Factory are all hotly tipped to do the same.


ARway.ai announces multiple new SaaS developer contracts in both the United...

ARway.ai (CSE:ARWY, OTCQB:ARWYF) Chief Executive Officer Evan Gappelberg joined Steve Darling from Proactive to announce multiple new SaaS developer sign-ups for its augmented reality experience platform, focusing on AR indoor navigation. These partnerships represent significant milestones in...

1 hour, 36 minutes ago