Oct 17, 2014 11:56 AM
A flat stock market debut for Jimmy Choo
The Associated Press
LONDON (AP) Jimmy Choo didn't look too sexy to the City.
Britain's finance center in the city of London yawned Friday with the stock market flotation of the luxe stiletto maker. Conditional trading began at 140 pence per share, valuing the business at about 546.6 million pounds ($874 million), though the price inched up later. The valuation was at the low end of previous guidance.
The stock offering comes despite jitters in global markets that have prompted some companies, like Virgin Money, to postpone their initial public offerings.
Jimmy Choo recorded sales of 282 million pounds ($462 million) in 2013 and wants to grow in Asia.
The company's high heels have many famous fans. Among them was Sarah Jessica Parker's character Carrie Bradshaw in the television show, "Sex and the City."