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Moneysupermarket.com flops in LSE debut

Moneysupermarket.com flopped yesterday when it debuted on the London Stock Exchange, with its shares losing £70m.

The price comparison site issued shares at 170p, the bottom limit in the 170-210p predicted range, which shortly dropped a significant 16p to 154p. They later made up 4p to close at 158p.

The float was the world’s biggest internet flotation since Google three years ago.

The website, which offers price comparisons on financial products including protection, mortgages and credit cards as well as flights, mobile phones and general insurance, confirmed its intention to float in late June and experts expected it to be worth £1bn.

Moneysupermarket.com attracted approximately 64 million visitors and approximately 523 million page impressions in the year ended 31 December 2006.

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