Feeds

City squabbles over £1bn Lastminute price tag

Grey market share price blows value sky high - and some

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

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
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?