What do you think of Freeserve float?

By THIS IS MONEY
Updated:

 

I am about to invest £1,000 in Freeserve shares to make a quick profit. What are your thoughts on this? EM, no location given.

A spokesman for NatWest Stockbrokers says: Applications for Freeserve closed on Thursday July 22 and it will not be officially listed until Aug 2. Offer price has yet to be determined but it is expected to be in the region of 130p-150p, though this is not certain.

We expect them to start trading at a premium as such as small proportion (less than 10%) of the company is being floated. So far there have been no predictions of the premium, but City Index, a spread betting company in the City were quoting a 'grey market' price of 189-197 on July 21.

Remember if you buy Freeserve to keep an eye on the US markets as it will be very much affected by the NASDAQ index in the USA.

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