Shares in moneysupermarket.com fell 8.5 per cent in early dealings on the London Stock Exchange today after it priced at the bottom of its marketing range.

The price comparison site's company floated at 170p this morning before its shares fell to 155.5p.The company had targeted a range of between 170p and 210p before visiting City institutions to test interest in the initial public offering (IPO).

Listing at 170p means the company's market value will be £843 million as opposed to the £1 billion capitalisation it could have reached had it floated at the top of the range.

Simon Nixon, who set up the business in the early 1990s for £4,000, will get £102.5 million from selling 60.3 million of his shares in moneysupermarket.com. This is £24.1 million less than he would have taken home if the internet company listed at the top of the range, giving him £126.6 million.

Mr Nixon will still hold 54.8 per cent of the business worth £462.4 million, which would have been valued at £571.2 million if the business listed at 210p.

The company will now raise £170 million instead of the hoped for £180 million, to be used to pay down its existing debt, much of which was issued to buyout Duncan Cameron, moneysupermarket.com's other majority shareholder who has not spoken with Mr Nixon since 2001.

In June, Mr Cameron sold most of his holding back to moneysupermarket.com for £162 million and has now sold the rest of his stake.

Although moneysupermarket.com will become a public company at the bottom of the price range, Mr Nixon said: "We have established a high quality shareholder base despite difficult stock market conditions and we look forward to our life as a listed company with great confidence."

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