By Sonya Rabbitte, 14 July 2000 17:54
NEWS Mobile phone retailer Carphone Warehouse launched on the London Stock Exchange (LSE) today with share price rising seven per cent in early trading. Shares were priced at 200p, mid-way between the proposed price range of 170p to 220p, with the offer reportedly five times oversubscribed. Carphone Warehouse, which operates 850 stores in the UK, plans to use the £185m raised through the flotation to expand its European operations. In an attempt to stabilise share price in first few months of trading, the company offered bonus shares to all subscribers who agreed to keep them for three months.
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