Purplebricks recorded a volatile bout of trading on London’s Stock Exchange yesterday, where it ended the day with a 5.7 per cent loss on its opening price.
Many share prices were adversely affected by worries about China’s economic performance, but the Purplebricks loss was greater than most; it closed at 91p, down 5.5p or 5.7 per cent on the day’s opening price.
The FTSE-100 closed down just two per cent.
The online agency - backed by star fund manager Neil Woodford - started trading on December 17 on the Alternative Investment Market, regarded as London's junior market.
Then, the 240m ordinary shares were placed at 100p each based on a market capitalisation of £240.3m.