Car retailer in €900m flotation

Car accessories and cycle retailer Halfords made its debut on the London Stock Exchange today in a move valuing the company at around £600m (€900.1m).

The group and its private equity backer CVC have braved tough market conditions to press ahead with the flotation, which is priced at 260p (€3.90) a share - towards the bottom of the previously indicated range of 250p (€3.80) to 300p (€4.50).