Feeds

It's steady as she goes for Freeserve shares

Looking pretty comfortable around the 200p mark, for now at least

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Shares in Freeserve fell by a smidgen under five per cent on day two of its life as a plc. They fell through the 200p barrier mid morning after closing last night at 205.5p Freeserve was nestling at around 195.5p late this afternoon. News of the float jostled for top spot in today's newspapers alongside photos of learner-driver 17-year-old Prince William taking his new motor for a spin. But in the wake of the high-profile sell-off that made punters 45 per cent profit in just 30 minutes yesterday, some interesting facts have emerged. For instance The Sun reported how CEO John Pluthero saw his personal share portfolio of £1 million Freeserve shares leap by more than £400,000 yesterday. Ordinary investors, who were only allowed a maximum of £750 worth of shares because of the massive demand, only managed to make around £277. And according to The Times some investors were so keen to cash in on the float one even sent in a cheque for £30,000. You can't blame the guy for trying -- but he now has to wait 21 days before he gets the outstanding £29,250 back from Dixons and eagerness could cost him dear. Aside from the gibbering optimists, there were some who tried to urinate on Freeserve's City parade. Credit Lyonnais Securities Europe said the Dixons ISP was only worth around 100p. WestLB Panmure reported that 60p was nearer the mark. With so few shares in circulation -- and demand so buoyant -- the general feeling is that nothing dramatic is going to happen in the short term. It's now up to Freeserve to deliver on the vote of support it received and start making some cash for its investors. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.