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Trustpilot shares drop below IPO price a day after market debut

Reuters
·1-min read

LONDON (Reuters) - Shares in online reviews platform Trustpilot dropped 4.7% to 252.6 pence on Wednesday, falling below its IPO price one day after making its stock market debut in London.

The British tech company had priced earlier this week its initial public offering (IPO) at 265 pence per share, giving it a market capitalisation of 1.08 billion pounds ($1.49 billion), the third major IPO in London this year after Dr Martens and Moonpig.

Another tech company, Deliveroo, is currently in the process of marketing its London IPO, a deal that is potentially the largest London debut in nearly a decade.

(Reporting by Abhinav Ramnarayan, editing by Danilo Masoni)