Ocado has lowered the price range on its IPO

Ocado has lowered the price range on its IPO

Ocado as lowered the anticipated price range for its IPO to between 180p to 200p per share.

The UK online grocery retailer had previously set the price range between 200p and 275p, valuing the business at GBP800m (US$1.22bn) to GBP1.2bn.

The company said it will publish a supplementary prospectus "in due course" to reflect the change in price.

Ocado had come under fire over its initial valuation with some analysts describing the business as overvalued.