It didn’t take Convatec long to trip up after its much-vaunted flotation just under two years ago. Those investors that bought in at the 225p-a-share offer price will be sitting on a loss of an unlucky 13½p on their holding as of last night.
Those who bought in on the way to Convatec’s peak in June last year of 344p will be considerably further in the red. They shouldn’t have to fret about losing any more.
Convatec feels like a business with bundles of potential, a good deal of which it is failing to live up to. Founded in 1978 as a division of the American drugs group Bristol-Myers Squibb, it makes medical equipment such as colostomy bags and catheters, as well as dressings and