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21 Mar 2000
Shares in online retailer Lastminute.com dropped below their issue price as open trading began today.
On flotation last Tuesday, the company was valued at £571.1m based on its share offer price of 380p. During the last week, the share price has struggled around the 400p mark in grey market trading.
Open trading began this morning, and the price had dropped to 350p by 11.30am GMT. As it stands, this price leaves private investors, already disappointed by a small allocation of 35 shares, out of pocket by about £10.50.
Registered subscribers to Lastminute.com's service who applied for shares only received shares worth a total of £133, based on their 380p issue price.
The weak debut of Lastminute.com last week sparked fears among many private investors. Technology shares across the board were down towards the end of the week.
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