Following news earlier in the month that ao.com were planning to float on the London Stock Exchange, it has been confirmed that the electricals etailer has debuted at a value of £1.2 billion.
The offer price was 285p per ordinary share upon debut, and ao.com expects to make around £60m in proceeds from the IPO.
Chief executive John Roberts, who holds 28.6% of ordinary shares, said: “I am delighted that our initial public offering has been so well received by investors. They have understood our business model and our potential. We welcome them as shareholders.”
He continued: “I have never been more excited about our business. We hope to continue to grow our market-leading position in the UK and we have the opportunity to bring our business model and customer focus to the online European electricals market.”
