Moonpig (LON: MNPG) got off to an impressive start in its first week on the London market. The placing price was 350p, which was at the top of the indicated range, and the share price ended the week at 423.85p.
The company raised £20m in the placing and £9m went on the costs of flotation. The selling shareholders raised £454.8m in the initial placing. An additional 14 million shares were sold by shareholders as part of the over-allotment option.
Moonpig is the market leader in online cards in the UK. There is a continuing trend from offline to online cards and gifting. Lockdowns have bo...
