Fashion retailer Bonmarché makes solid debut on London Stock Exchange
High street retailer raised £40 million in its initial public offering
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.Women's fashion chain Bonmarché started trading as a public company today amid accusations it was undervalued.
Shares in the company rose about 10% to 220p on London’s junior AIM market as it became the latest company to go public this year. The initial public offering raised £40 million for the high street retailer, which has 264 stores and was bought out of administration by Sun Capital Partners last year.
Veteran retail analyst Nick Bubb described the valuation handed to the company as being “underwhelming”.
“After a further look at the admission document, it seems even harder to explain, as the group had over £10 million in net cash at the end of September,” he added.
Meanwhile, Infinis, the energy group listed by Guy Hand’s Terra Firma last week at 260p, settled at around 270p during its first day of unconditional trading on the main market of the London Stock Exchange. Applied Graphene Materials, which was spun out of Durham University, surged 31% on its debut on AIM.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments