ONLINE grocery retailer Ocado has slashed the price range for its ambitious stock market debut amid concerns over its valuation.
The group had aimed for shares to fetch between 200p and 275p each, but revealed the revised price would now be 180p to 200p.
Its new range would see the firm’s valuation come in far shy of the previous hopes for about £1.18bn.
The news follows speculation that demand for shares from customers and wider investors has been poor. Ocado said it would outline the impact of the new price range in a further prospectus “in due course”.
The group is thought to have been struggling to win investor backing after a leading retail analyst said it was worth less than half its previous £1bn-plus flotation value.