Investors bid up Auction Technology price

Online auctions provider Auction Technology Group (LON: ATG) got off to a strong start in its first week on the Main Market. Boosted by Covid-19 restrictions making normal auctions more difficult, demand for online auctions has boomed in the past year. The company raised £247.4m at 600p a share, while existing shareholders pocketed £51.5m after the over-allotment option was exercised. The company was valued at £600m. There was a 30% gain at the end of the first week of trading. Business The genesis of the business was the trade magazine Antiques Trade Gazette and it still generates nearly 10% ...