Moonpig Shares Hit London Stock Market Valued At £1.2bn

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Moonpig SShares Hit London Stock Market Valued At £1.2bn
Moonpig Shares Hit London Stock Market Valued At £1.2bn . image: wikimedia

MOONPIG Shares Hit London Stock Market Valued At £1.2bn with shares rising 17 per cent on the day

Moonpig, the online greeting card company, became the second household name to float on the London stock market this year – following on from the success of Dr Marten’s last Friday – as they hit the trading floor on Tuesday, February 2.

The sales of online cards have risen during the pandemic, due to the closure of stores, with lockdowns preventing people from going out shopping, and Moonpig took advantage of this when floating their shares at 350p per share, at the opening of trade.

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At one point during the day, shares were trading at around 440p but closed the day at 410p, a rise of 17 per cent on the day, with Moonpig selling around 5.7 million in new shares while existing shareholders’ interests made up the bulk of the offer.

Dominick Mondesir, the PitchBook analyst, reflected, “The short-term performance of the Moonpig IPO reflects equity investors’ willingness to pay for growth, especially for tech-enabled assets. The stock was priced at the top end of its valuation range and surged in its first day of trading”.

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Chris King
Chris was born in a small village in Wales, where he ran his own successful construction company for many years, before deciding in 1990, to swap the grey skies and rain for the sunshine and lifestyle of the Costa del Sol. Late last year he made the move to Southern Portugal, and is now residing on the Algarve. Having sang and played in a rock band back in Wales, he still likes to go out and entertain in his spare time, singing in restaurants and golf clubs. Interests are of course music, especially from the 60s and 70s, movies, nice restaurants, and has a passion for graphic design and online marketing.

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