PENSIONBEE BUZZES ONTO LONDON STOCK EXCHANGE

PENSIONBEE has become the latest British tech company to begin trading on the London Stock Exchange, dodging the scepticism which has dogged Deliveroo’s float.

The savings firm launched at 165p a share, giving the seven-year-old firm a value of £365m and valuing founder Romi Savova’s stake at £132m.

Although it managed to avoid the same fate as Deliveroo, whose shares tumbled 26pc on their first day last m on th,Sav ova( pictured with co founder may have been hoping for a warmer reception. The stock ended the day at 166.2p – a contrast with online shopping titan The Hut Group, up 24pc since its float last year.

Online greetings card company Moonpig and shoe chain Dr Martens, which floated earlier this year, are up 24pc and 27pc respectively.

On Monday, full trading begins – meaning 5,000 customers can sell their shares, and other small shareholders can buy in. Savova said: ‘We are delighted with the strong support we have received from institutional investors and our customers.’