Victorian Plumbing bursts onto the market | Business

Investors rushed to welcome the largest-ever IPO on the London junior market, with shares in Victorian Plumbing rising 20 percent on the first day of trading.

The online bathroom accessories business was valued at £850m after the shares made their debut at 262p in the Aim market, but ended the day at 330p, valuing the company at over £1.04bn.

The first day “pop” will be welcomed by investment bankers as a sign that there is still life in the market amid concerns that investor fatigue has caused quotes to pull away or be priced at the lower end of their range.

Advisers said Victorian Plumbing was in a league of its own, setting aside the recent spate of loss-making online retailers that floated on hefty premiums

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