P2P Global sees its shares jump 5.75pc on first day of trading

 
Joseph Millis
PEER-to-peer lender P2P Global Investments yesterday saw its C-shares rise from 1,000p to 1,057.50p, an increase of 5.75 per cent on their first day of trading.

The investment trust raised £250m in a heavily over-subscribed C-share issue, giving the rapidly expanding peer-to-peer lending sector a further boost.

The successful fund raising more than doubles the size of P2P, which is backed by UK hedge fund Marshall Wace and which floated at £200m last May.

P2P invests in 11 lending platforms, including Lending Club, the world’s largest loan platform, which floated on Nasdaq in December.

Meanwhile, infrastructure group John Laing is seeking to secure a valuation of £865m from its initial public offering in what would be the first major UK flotation of 2015.

It yesterday set the indicative price range at between 195p-245p per share, giving it a market cap of between £715.5m and £865.5m. The total size of the offer is expected to deliver a free float of between 30 per cent and 60 per cent.