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Hargreaves Lansdown business booms on LSE debut

Shares in IFA and discount brokerage firm Hargreaves Lansdown have soared by more than 30 per cent as the group made its debut on the London Stock Exchange yesterday.

After announcing its intention to float back in January, the shares opened at 160p before rising to 209.5p at the close of play adding some £232.4m in value to the Bristol-based firm.

As of this lunchtime the shares were holding up at 209.6p

The initial offer of 25 per cent of its shares is still in the midst of the grey market, the term given to a new listing for its first three days on the exchange.

The offer also sees the 60 per cent holding held by founders Peter Hargreaves and Stephen Lansdown bolstered by almost £150m with yesterdays close of play giving it a market capitalisation of £991.4m.

Hargreaves Lansdown chairman and co-founder Stephen Lansdown says: “We have been very pleased with the response to the Offer and are delighted to announce the pricing of the IPO and to welcome new investors in Hargreaves Lansdown. We look forward to Hargreaves Lansdown being a publicly quoted company and to continuing to take advantage of the growth opportunities available to us.”

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