Investors snap up Pensionbee shares on its first day of full stock market trading – sending shares up 6%
Pensionbee has got off to a strong start on the stock market as investors rushed to buy in on its first day of full trading.
The pensions savings app, which completed its initial public offering (IPO) last week, saw its shares climb 5.8 per cent yesterday as individuals were able to trade the shares for the first time.
Since Pensionbee floated last Wednesday, only institutions have been able to buy and sell the shares in so-called ‘conditional trading’.
Pensionbee’s stock is up 8.2 per cent from its IPO price of 165p. The rise will come as a relief to founders Romi Savova and Jonathan Lister Parsons (pictured last week at the float)
But there was a flurry of activity as these restrictions lifted, and Pensionbee’s stock is now up 8.2 per cent from its IPO price of 165p.
The rise will come as a relief to founders Romi Savova and Jonathan Lister Parsons (pictured last week at the float), as the Pensionbee float follows hot on the heels of the disastrous Deliveroo listing.
Just last month, Deliveroo shares tumbled 26 per cent on their first day of trading and are now down more than 41 per cent.
The Government will also be hoping that Pensionbee is a Great British success story, as it tries to improve stock market rules to attract more tech start-ups to London.