AO became the UK's biggest ever ecommerce IPO when it launched on the London Stock Exchange this morning with a valuation of £1.2 billion.
Within half an hour of trading in London on its first day, the shares were already up by more than a third selling at £3.90. That was 37 per cent higher than the £2.85 offer price.
The launch price was almost a third more than the £937 million valuation achieved by Ocado on its debut making Ocado the second biggest ecommerce IPO.
The owners at AO World, the official name of AO.com's parent group, sold an estimated £363 million existing shares in the flotation and raised an additional £60 million from selling new shares.
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