Ocado: is it more than dotcom hype?

Ocado launched Britain's biggest flotation of the year this week. But priced at between 200p and 275p per share, is a profit-less firm ever going to live up to such a generous valuation?

Online supermarket Ocado has launched Britain's biggest flotation of the year. It announced that its shares would be priced between 200p and 275p when they begin trading in a fortnight. At the middle of this range, its market capitalisation would be almost £1.2bn. The founders, three former Goldman Sachs bankers, are in line for a windfall of £125m.

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