Schroders' Buxton Says Ocado Share Offering Price Is Too High, FT Reports

Ocado Ltd.’s initial public share offering at 200 pence to 275 pence per share is too high, the Financial Times reported, citing Richard Buxton, head of UK equities at Schroders.

Schroders is one of several institutions that might shun the offering at the proposed price, which would value the group at 800 million pounds ($1.2 billion) to 1.3 billion pounds, the FT said. The U.K. investor might be more interested at a valuation between 500 million pounds and 600 million pounds, the FT said, citing an interview with Buxton yesterday.

To contact the reporter on this story: Anna Stablum in London at astablum@bloomberg.net.

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