Shares in Soho House s parent company opened 6pc below their float price in their debut on the New York Stock Exchange.
The Membership Collective Group (MCG) priced its Initial Public Offering at $14 a share, at the bottom of the $14 to $16 range pitched to investors, valuing it at $2.8billion (£2billion). The shares closed at $12.66 (£9.16) last night.
The firm raised $420million (£304million) from the initial public offering.
Expanding: Soho House founder and chief exec Nick Jones, (pictured with singer Paloma Faith), is opening clubs in Paris, Rome, Tel Aviv and Brighton this year
The group, which shelved a previous plan to float in 2018, intends to pay debts and continue its expansion from its current 30 houses.
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Shares in Soho House open 6% below their float price in New York
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