The drop in HMV Media's share price since its trading debut last week will not cause the slew of initial public offerings in the pipeline to be postponed, but it will affect valuations.

The UK music and book retailer made its trading debut last Thursday after pricing near the bottom of its bookbuilding range. HMV shares were issued at 192p, compared to the bookbuilding range of between 190p and 220p, and closed the week at 176.5p.