Ocado is wooing US investors ahead of its planned flotation on the London Stock Exchange.
The online retailer is in the middle of a 10-day international roadshow to attract overseas buyers, with chief executive Tim Steiner leading the sales pitch to potential backers in New York and Chicago.
According to press reports, interest in the US has been stronger than in the City, where Ocado has faced mounting scepticism over its IPO, scheduled for next week.
A number of London analysts have claimed the £1bn valuation placed on the retailer is too high and have warned investors against buying the stock. Earlier this week Clive Black of Shore Capital said the price tag was “little short of ludicrous”.
City warns investors off 'over-priced' Ocado (14 July 2010)
Ocado sets out share price ahead of IPO (6 July 2010)
As questions over IPO linger, will it be Ocado or Ocadon’t? (analysis; 3 July 2010)