Moonpig valued at £1.2bn as float begins

Moonpig screengrab

Moonpig has begun trading on the London Stock Exchange with a market capitalisation of £1.2bn.

The greetings card retailer has set its offer price at 350p per share, bringing its valuation to over £1bn at the commencement of dealings.

The offer included approximately 5.7 million new shares to raise £20m for the business, as well as approximately 134.6 million shares sold by existing shareholders.

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