SOFTWARE company WANdisco celebrated its first day of trading on the London Stock Exchange with an 11 per cent leap in the share price.
The shares, which were priced at 180p, closed the day up 19p at 199p.
Chairman and chief executive David Richards said: “On the back of the Facebook debacle, to be significantly above the offer price is very nice. With tech companies trading below the offer price, it’s good to see a tech stock that is going up.
“The market really needs growth stories.”
Sheffield-based WANdisco is the first Yorkshire company to float on the London Stock Exchange in two years, in an IPO that was more than three times over-subscribed.
It is only the fourth software IPO to list in London in 18 months.
Mr Richards hailed the float – which raised £15m and valued the fast-growing software company at £37m – as a massive success story for Sheffield.
Phil Abram, KPMG’s Leeds-based UK regions head of Transaction Services, who advised on the float, said: “This is an important transaction being the first IPO of a Yorkshire-based business for more than a year and indeed is one of less than 25 UK listings on AIM in 2012.”
The WANdisco management team and advisers opened the stock exchange yesterday before heading off for a pint of Guinness in the City’s famous Smithfield market.