Photographic firm floats at £160m

UK photographic specialist Jessops - which is today opening a new retail outlet in Dublin - was forced to cut its flotation price in London today amid tough stock market conditions.

The retailer, which has more than 260 stores in the UK, six in the North and now one in Dublin, was valued at £160m (€229.6m) amid poor demand from investors that has hit a number of recent market debuts.