Russ Mould, investment director at AJ Bell, said: “Princes’ IPO had all the appeal of a tin can stuck at the back of a cupboard – not very exciting but still a potential source of sustenance for those willing to be brave.
“The lacklustre investor demand for its stock offer saw the shares priced at the bottom of the IPO range and fall further once they hit the market.
“It wasn’t a great start to life as a listed entity, so it was inevitable that management would have to work harder to bang the drum and convince more people that the business is worth a look.
“Princes Group has presented a nine-month trading period, two thirds of which was already covered in its IPO prospectus.
“Investors weren’t sure how to consume the limited information as the shares moved up and down like a yo-yo in early trading.
“A lot of investors will be sitting on the sidelines until there is a full set of financial results by which to judge the company post-listing.
“Princes will have to let its business performance do the talking rather than management if it is to truly win over the market.”
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