C&C Group had a disappointing debut on the London and Dublin stock exchanges on Friday.
The shares in the Irish drinks and snacks company had been priced at Eu2.26 (£1.52), at the bottom end of the expected range, and ended the day down Eu0.1 (£0.067) to Eu2.25 (£1.52).
The float valued the former Cantrell & Cochrane, maker of Tullamore Dew whisky, at Eu723m (£488m).
Bank advisers said it was a credible outcome given recent market turbulence. C&C played down the low price it achieved and said the quality of investor was more important than the quantity.
The Times 15/05/04 page 54, page 59 (Need to know)
Financial Times (Money & Business) 15/05/04 page 4
The Daily Telegraph 15/05/04 page 33
