NETeller, the electronic payment system company, has delayed its stock market flotation. The company was due to raise £50m on Aim today 31/03/04, giving it a market capitalisation of about £250m, but now looks likely to float next Thursday as its prospectus was only published on Monday.
Traders said the placing of 20m new NETeller shares with institutions was likely to be at around 200p per share. They said the shares were allocated last night and were 1.3 times oversubscribed. Another 5m shares will be placed with existing shareholders through advisors Canaccord and joint broker Durlacher.