ONLINE retailer Ocado’s stock market flotation has been hit by fresh woes – as its shares made a shaky start in conditional trading.

The internet grocer slashed the offer price for its initial public offering to 180p – down from initial hopes for between 200p and 275p – amid concerns over the value put on the firm.

But the move failed to boost confidence, with shares off 9% to 164p in conditional trading yesterday ahead of the official listing next Monday.

That values the business at about £853m including new shares – well down on its initial hopes for a figure of about £1.18bn.