Sofa store DFS not lazing about on solid London market debut

 
Michael Bow
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SHARES in sofa chain DFS rose on their debut on the London stock exchange yesterday, the second new listing this week to gain on its first day of trading.

DFS, which set its listing price at 255p, saw shares rise by as much as 3.4 per cent to a day high of 263.91p before settling down to close at 258p.

Although not as dramatic as the price climb of challenger bank Aldermore, which rose 12 per cent on its debut on Tuesday, the positive debut for DFS stock is in contrast to the poorer first-day record of other floats this year.

Tools group HSS Hire fell from its float price of 210p down to 200p, while John Laing also inched down from an issue price of 195p to 192.25p.

Banks had originally set a price range of 245p to 310p on the DFS float, but priced it at the lower end of the range last week.