INVESTORS DOTTY OVER LASTMINUTE
JAMES MACLEANSHARES in lastminute.com start trading in London today in one of the most hotly awaited share debuts since British Gas and British Telecom were privatised in the Eighties.
Amidst a frenzy for .com shares on both sides of the Atlantic the flotation of the loss-making internet travel company is set to make multimillionaires of the company's founders, Martha Lane Fox, 27, and Brent Hoberman, 31.
The application has been more than 20 times oversubscribed and brokers are expecting the shares to show hefty gains above a 380p offer price.
Latest indications suggest they will be trading at about 550p.
It would mean the company, which had total revenues of 409,000 in its last quarter, was valued at 800million. Allocations for small investors were cut to only 35 shares each.
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