Jupiter shares open 15% ahead of offer price

Jupiter shares have opened at 190.25p on the first day of full trading on the London Stock Exchange, a 15% increase on its offer price.

The offer price of Jupiter's initial public offering was set 165p per ordinary share, but climbed sharply over the week of conditional trading. Jupiter's IPO was more than 2.5 times oversubscribed after a strong take-up from both institutional and retail investors. A number of Henderson fund managers bought into the IPO, taking a combined 2% stake in the group. Graham Kitchen, who runs a number of equity products at the group, says the UK and European equity teams added the stock at the "very attractive" IPO price. BlackRock also has a strong stake in Jupiter, buying a 5.13% sha...