Victorian Plumbing bursts onto the market

Victorian Plumbing is a one-stop online shop for bathroom fittings for both the public and trade customers
Victorian Plumbing is a one-stop online shop for bathroom fittings for both the public and trade customers
VICTORIAN PLUMBING

Investors rushed to welcome the biggest ever flotation on London’s junior market with shares in Victorian Plumbing rising 20 per cent on its first day of trading.

The online bathroom accessories business was valued at £850 million after its shares made their debut at 262p on the Aim market, but they ended the day at 330p, valuing the company at over £1.04 billion.

The first day “pop” will be welcomed by investment bankers as a sign that there is still life in the market amid concerns that investor fatigue was causing listings to be pulled or be priced at the bottom of their range.

Advisers said Victorian Plumbing was in a league apart from the recent rash of loss-making online retailers floated at punchy premiums