SOMERFIELD, Britain's fifth largest supermarket chain, makes its stock market debut today.

The company had to cut its target share price twice in order to achieve a successful flotation - first from a an initial range of between 180p and 190p to 160p and than, a fortnight ago, to 145p.

The price values the company at £435 million sterling compared with the initial maximum target value of £570 million and analysts are now predicting the shares will make a healthy premium when trading begins.