By Sally Watson, 20 October 2000 14:19
NEWS The company closed its IPO on a strong footing. Its share price topped 365p but dipped to 333p by the end of its first day of trading. CEO Alex van Someren said the demand had been outstanding, with the institutional offerings twelve times oversubscribed. "It helps that we are in an area that is considered important to ecommerce," van Someren said. "And we've been lucky in building ourselves up as well." The company has received a lot of interest from investors the UK, continental Europe and the US. Van Someren said he is prepared to see the price fluctuate. "There has been uncertainty in the markets and things got very sticky in the US last week. This is a difficult time to have your stock go out." "It's not going to be a steady trajectory," he admitted, "But we are looking to the long term. Fluctuations in share price are not always logical and not always related to your own business - but we'll have to accept that."
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