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Cyber security firm Avast down 3 pct in London debut

Reuters - UK Focus

LONDON, May 10 (Reuters) - Cyber security firm Avast was down almost 3 percent in its debut on Thursday compared to its offer price of 250 pence in the biggest initial public offering (IPO) on the London Stock Exchange (Other OTC: LDNXF - news) since July 2017.

The private equity-backed firm fell as low as 240 pence before recovering to 243 pence by 0744 GMT. Bankers typically price IPOs aiming for a slight rise in the first days of trading. (Reporting by Dasha Afanasieva. Editing by Clara Denina.)