Feeds

City squabbles over £1bn Lastminute price tag

Grey market share price blows value sky high - and some

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Spread betting companies in the City are reported to be squabbling over Lastminute.com's likely flotation price. IG Index was quoting a "grey market" price between 350p and 360p for the online retailer's IPO, according to the Financial Times. This towered above Lastminute's own estimated share price of 190p to 230p - which would value the company at £316 million. Higher still were the opening price predictions from Financial Spreads, which was quoting 495p to 505p. Financial Spread's price would give Lastminute a market capitalisation of over £1 billion on its imminent float. "We are opening Lastminute.com with the biggest percentage premium we have ever quoted on a grey market," said IG's Paul Austin. All these ponderings from City suits is no doubt bolstering spirits and purses at Lastminute's London office. It has revealed the two co-founders of the Internet goldmine, Brent Hoberman and Martha Lane Fox, are getting hefty payrises to bring them in line with the cyber age. Hoberman's salary is set to rise from £55,000 to £150,000, while Fast Lane Foxy's modest £45,000 will jump to £120,000. Lane Fox's shareholding in Lastminute is worth at least £23 million on the £316 million valuation. The company has also revealed its sales figures for the last quarter of 1999 - revenues reached £409,000, compared to £119,000 for the same period in 1998. ® Related stories: Float announced for lastminute.com How meaningful are Lastminute.com registration numbers? The wit and wisdom of Martha Lane Fox

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
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
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
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.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.