French retail investors were given a rude reminder last week that shares can go down as well as up following the drop in the share price of Electricité de France in its first week of trading.
While the aggressive price may have ensured a good payout for the state â and the banks behind the float â some bankers and fund managers feel the shares' poor initial performance may put investors off supporting further initial public offerings. It is the worst since the flotation of telecoms operator Orange in 2001.
