Feeds

City squabbles over £1bn Lastminute price tag

Grey market share price blows value sky high - and some

  • alert
  • submit to reddit

Mobile application security vulnerability report

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

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.