shares fall 7% after completing London IPO

© Reuters.

LONDON (Reuters) – Shares in online furniture retailer fell 7% on its stock market debut after the company completed a London initial public offering that valued it at 826 million pounds ($1.17 billion).

Earlier, the company said it had priced the deal at 200 pence per share, the bottom of a previously announced price range. At this rate, the company is raising 194 million pounds while shareholders sold a further 223 million pounds of shares.

($1 = 0.7086 pounds)

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