Shares in luxury shoemaker Jimmy Choo opened at 141 pence on their market debut this morning, up 0.7% on the offer price of 140 pence, after conditional trading began on the London Stock Exchange.
Owner JAB Luxury had priced the offering of 25.9% of the business at the bottom of the original price range of between 140 and 180 pence a share, valuing the company at £545.6m.
Jimmy Choo comes to market at a time when stock market listings are being pulled across Europe, as global equity markets are roiled by concerns over issues including the sluggish pace of economic growth in many leading markets.
UK lender Aldermore was also supposed to start trading in London on Friday, but withdrew its flotation plan on Wednesday after failing to cover the books.
Jimmy Choo's stock market performance is seen by many bankers as a test of whether upcoming deals can survive in current market conditions.
