PRINT THIS PAGE Doughty Hanson floats UK Umbro after cutting offer price28/05/2004. Source: AltAssets. 
 The initial public offering of Doughty Hanson's Umbro valued the company at just £145m after the price of the sports clothing retailer's shares was slashed by almost half. Yesterday the shares were offered at 100p, dramatically below the indicative range of 150p to 190p set two weeks ago, which valued the company at £202m.
'We are delighted that we have been able to proceed with Umbro's flotation despite weak equity market conditions,' said Umbro chief executive officer Peter McGuigan.
Earlier this week Doughty Hanson was forced to postpone its proposed IPO of Auto-Teile-Unger, the German car parts and accessories group, after the company was unable to agree on an acceptable valuation level with potential investors.
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