UPDATE 2-Abu Dhabi's Gulf Marine Services makes muted London debut | Reuters:
"(Reuters) - Abu Dhabi-based Gulf Marine Services (GMS) made a muted stock market debut in London, as the oil service vessel operator struggled to spark investors' interest following a glut of new share listings.
GMS shares were changing hands at 135 pence at 0829 GMT, unchanged from the level they were priced at earlier on Friday, in conditional trading before they are officially listed on the exchange.
The company priced its initial public offering (IPO) at the bottom of a range it had offered investors, giving it a market capitalisation of 472 million pounds ($787.1 million).
The valuation, which was below expectations for $1 billion, comes after several highly-valued flotations, including Poundland and Circassia, which both listed at the top of their price ranges in the past week."
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