London Tunnels makes premium-priced debut in Amsterdam

London Tunnels, a tourist attraction firm floating on the Amsterdam stock exchange, today made a premium-priced market debut.

Rising to 214p on the Euronext exchange, the shares were up around 7% from the IPO price of 200p.

The placing of existing shares, had valued the company at £130 million.

It may have snubbed the London Stock Exchange, in favour of Amsterdam, but the company will still need the backing of London planning authorities as it advances its project – which would see a network of wartime subterranean tunnel shelters converted into museum, heritage and cultural spaces.

Part of the project has been given the green light by the City of London planning, though further approval would be needed in the future, including permission from Camden authorities.

Chief executive Angus Murray, meanwhile, commented that the company "will seek to raise capital over the coming years to realise our vision of creating an unparalleled tourist attraction”.