Pensionbee has become the latest British tech company to begin trading on the London Stock Exchange, dodging the scepticism which has dogged Deliveroo’s float.
The savings firm launched at 165p a share, giving the seven-year-old firm a value of £365million and valuing founder Romi Savova’s stake at £132million.
Although it managed to avoid the same fate as Deliveroo, whose shares tumbled 26 per cent on their first day last month, Savova (pictured with co-founder Jonathan Lister Parsons) may have been hoping for a warmer reception.
Pensionbee launched at 165p a share, giving the firm a value of £365m and valuing founder Romi Savova s (pictured with co-founder Jonathan Lister Parsons) stake at £132m
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Pensionbee targets £384m valuation as it gears up for London float
Pensionbee will debut on the London Stock Exchange later this month
Pensionbee is targeting a valuation of up to £384m as it prepares to list on the London Stock Exchange later this month.
In a filing today the fintech firm priced its initial public offering at between 155p and 175p per share, giving a market capitalisation of between £346m and £384m.
It plans to raise £55m from the float to help fund investment in its platform, as well as in advertising and marketing activities.
Pensionbee also revealed that assets under administration grew 123 per cent year on year to £1.7bn thanks to sharp growth in customer numbers.
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