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Ocado lowers flotation price range

Ocado has cut the indicated price range for its forthcoming flotation.

CITY & CORPORATE

Ocado lowers flotation price range

Ocado has cut the indicated price range for its forthcoming flotation.

The company has said that the shares will be floated at a price ranging from 180p to 200p inclusive, compared to the original indicated price range of 200p to 275p.

Its new range would see the firm's valuation come in lower tha  the previous hopes for around £1.18 billion. The news follows wide speculation that demand for shares from customers and wider investors had been poor. Ocado said it would outline the impact of the new price range in a further prospectus "in due course".

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