Will Groupon float boost the IPO market?

Stock-market flotations have so far failed to excite investors this year. But all that could change with internet voucher provider Groupon's much-hyped listing.

The much-hyped American float of Groupon finally got away on Nasdaq last week. The initial public offering (IPO) is the biggest US internet firm flotation since Google raised $1.7bn in 2004, say Alistair Barr and Clare Baldwin at Reuters.com.

The internet voucher provider raised $700m and joins Nasdaq with a market capitalisation of nearly $13bn. Critics claim the stock is overpriced. "Its business model is questionable and its $28 share price insane," says Lex in the FT. On the plus side, "the company believes in itself and has 95% of its skin in the game. Few can claim such an alignment with investors."

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