- UPDATED: Rosebank shares double on first day, hitting 480p
- £50mn raise will go towards buying manufacturing business
Shares in the new venture set up by the co-founders of Melrose Industries (MRO) almost doubled on the first day of trading.
Rosebank Industries (ROSE) raised £50mn in seed capital, selling 20mn shares at 250p a share. The share price hit 480p on the opening day, valuing the company at almost £100mn.