Shares in Intertek Testing Services made a strong trading debut and opened up 7.25% after Schroder Salomon Smith Barney (SSSB) and Goldman Sachs priced the £393m (€622m) flotation at the bottom of its range.

The deal follows a number of other European initial public offerings backed by private equity firms that have been forced to price below their bookbuilding range and reduce the number of shares on sale, as investors have been unwilling to buy shares unless they are seen as attractively priced.