Trustpilot Steady in Debut as IPO Raises $655 Million
- Danish company’s shares rise as much as 16% in early trading
- Trustpilot is first European firm to list in U.K. this year
A pedestrian passes the London Stock Exchange, in the City of London.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Danish consumer-review site Trustpilot Group Plc rose as much as 16% before trimming gains on its first trading day in London after its initial public offering raised 473 million pounds ($655 million), helping the City solidify its position as an attractive venue for continental companies after Brexit.
The stock ended the session at 265 pence, in line with the initial public offering price, which was at the top end of an indicative price range. The IPO of the 44% stake gives the company a market value of 1.08 billion pounds, according to a statement Tuesday.