Kensington Group, the sub-prime mortgage lender floating on the London Stock Exchange on Thursday, has priced its shares at the bottom of the range in the face of a choppy London market.
Kensington Group stressed it had priced its IPO at this level to ensure a strong secondary market performance for the shares. John Maltby, chief executive of Kensington, said: "We priced at the bottom end of the range but there is a good reason for that. We want to ensure that the company's share price does well in the aftermarket."
