Funding Circle's Initial Public Offering (IPO) saw the company list at an initial share price of 440 pence on the London Stock Exchange. The company successfully raised £300 million during this public offering.
Initial Share Price and Valuation
Funding Circle began trading on the London Stock Exchange (LSE: FCH) with an initial price of 440 pence per share. This price was at the lower end of their forecasted price range, which had been between 420 pence and 530 pence. The IPO valued the company at approximately £1.5 billion.
Capital Raised
The primary purpose of the IPO was to raise capital for the company's future growth and operations. Funding Circle achieved its goal by raising £300 million from investors.
Key IPO Details at a Glance
For a clearer overview, here are the core details of Funding Circle's IPO:
| Detail | Value |
|---|---|
| Initial Share Price | 440 pence |
| Capital Raised | £300 million |
| Valuation at IPO | Around £1.5 billion |
| Stock Exchange | London Stock Exchange (LSE: FCH) |
| Forecasted Price Range | 420p to 530p |
Market Performance on Opening Day
On its first day of trading, Funding Circle's shares experienced some volatility. While the initial trading saw the share price rise early in the day to 460 pence, it ultimately closed flat at its initial IPO price of 440 pence.
