The second US initial public offering in two days has priced above expectations, and both companies have risen in value by double digit percentages on their first day of trading. However, Jessops, the UK photographic group floating in London, priced shares well below its target range on Friday.

Jessops raised £120m ($172m) after issuing shares at 155p against a 185p to 220p range through ABN Amro Rothschild. Its shares had fallen 4.5% to 148p by 13:15 GMT on Friday.