Huge Scramble For Shares In Freeserve

Shares in the free internet service provider Freeserve are expected to open at 150p, which would value the company at £1.5 billion. Freeserve, which is being floated by parent company electrical retailer Dixons, is said to be over-subscribed by between 10 and 30 times.

The huge demand for Britain’s first big internet flotation, due mainly to Dixon’s making only around 20% of the company available to the public, is expected to push the stock price up sharply in the short term. The flotation of Freeserve, which has over 1.3 million users, will raise £264m and will make it Europe’s largest quoted pure internet company.

Freeserve: 01442 354285