Australian fashion etailer MySale has been forced to issue a clarification after its shares were priced incorrectly on its stock market debut.
The Sir Philip Green-backed flash Sales specialist launched on AIM this morning, when the error meant the shares appeared to be trading at 2.26p rather than 226p and caused a price fall.
It is thought that MySale’s nominated advisor Macquarie inadvertently inputted the price with a decimal place and the confusion led to auto-selling.
The error led to shares dropping by as much as 27%.
MySale issued a statement which said: “MySale Group plc’s trading currency is currently in GBP, as opposed to British pence as intended. The quote will be changed to British pence tomorrow Tuesday 17 June 8am.”
1 Reader's comment