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Gartmore has also struggled to beat its 220p flotation value and is now about half that.
Priced at a discount in order to attract investors to part with their cash during difficult times for the stock market, analysts reckoned the insurer's true worth to be £600m higher than its flotation value.
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The flotation valued the London-based company, which uses the slogan "give hunger the finger", at £1.47bn – more than 100 times underlying earnings of £14m.
Luxury chocolatier Hotel Chocolat is planning a flotation valuing the company at £150m to raise funds to step up expansion in the UK and online, and develop its manufacturing plant in Oxfordshire.
Frustrated, KPMG last year sold a fifth of its consulting arm to Cisco Systems, an Internet-equipment provider, for $1 billion.On August 7th, KPMG said it expected to raise another $2.7 billion in a flotation valuing the consulting firm at up to $5.6 billion.
At the upper range, the upcoming share flotation values Man Utd at more than $3bn.
The flotation values the club at more than $2.3bn, making it one of the biggest sports clubs in the world.
A stock market flotation could value the branches at around £1.5bn – double the price being paid by the Co-op.
Analysts expect the flotation to value Alibaba at $140 billion or more, compared with Facebook's current market capitalisation of $175 billion.The Hong Kong exchange lost out on Alibaba's flotation because it rejected demands by Alibaba to allow a clique around Jack Ma, its founder, to retain control using special shares.
The flotation could value the club at between $380 million and $465 million.
However, Royal Mail chief executive Moya Greene told the BBC she thought the flotation was valued correctly.
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