Feeds

Freeserve soars in first day trading

Text-book IPO

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Hats off to Dixons and its serried ranks of financial advisors for getting away (with) the Freeserve IPO. Shares catapulted nearly 50 per cent on the first day of trading, valuing Freeserve at an astonishing £2.2 billion. Astonishing because Freeserve turns over much less than £10 million and loses money, its customers don't spend very much time staying on its Web site, and prospects for overseas growth are somewhat limited because competitors are copying its business model in other European countries. Also astonishing because Freeserve's placing price of 150p was already at the high end of the pre-float spread indicated by Dixons. The electricals retailer could charge this because the offer for 20 per cent of Freeserve shares was oversubscribed by more than 30 times. Therein lies the key for the first day madness. Freeserve is now Europe's biggest pureplay Internet stock, and it has got investors -- institutional and retail -- excited. The scarcity value of Freeserve stock has ensured a wildly successful float, as we predicted, oh, weeks ago. All the company has to do now is justify its share-price. And that means buying wisely. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.