Trio of newcomers meets a warm reception - but the real test awaits
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A trio of debutantes hit the London market yesterday and all three managed first-day gains.
A trio of debutantes hit the London market yesterday and all three managed first-day gains.
South Africa's largest IT firm Didata made a firm start closing at 564.5p compared with its 520p issue price. It was among the most actives list, accounting for 41 million shares traded. At its closing price, Didata can expect to muscle into the FTSE 100 index of heavyweight stocks, making it a must-have share for many fund managers.
Didata helps big businesses to connect their internal communications to customers and the online world outside. A main competitor is IBM Global Services.
"We are very happy with the way the listing has gone," Chairman Jeremy Ord said. "We are delighted by the interest international institutional investors have shown." The offer of 160.5 million shares raised around £800m after marketing costs - enough to fuel the firm's ambitious expansion plans.
Ord said Didata would use the new money to expand, with takeover targets identified in Spain, Italy and Scandinavia and ripe for completion this year. This is the sixth major South African company in recent years to seek a Northern listing in order to fight on a world stage.
Bookmaker IG Index closed at 280p compared with its 240p issue price, while fellow newcomer information systems company iSOFT Group ended at 152p compared with an issue price of 110p. IG raised a net £1.15m through the initial share offer. Investec Henderson Crosthwaite, which is handling the float, said the 240p issue price was a "good valuation" towards the top of expectations.
Chairman, chief executive and founder Stuart Wheeler, 65, says he has no plans to retire despite pocketing around £5m at the float from a £300 investment 1974.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments