Shares in HHG, the newly demerged UK arm of AMP, the Australian insurance company, opened at a 27% premium to their 30p issue price on their first day of trading in London on Tuesday after a strong debut in Sydney.

The HHG shares opened at 38p on the London Stock Exchange, capitalising the company at around £950m (€1.35bn). The shares traded at 37.47p at 10.25 GMT.