Simon Nixon stands to make about �100m from the flotation

The stocks were priced at 170p each - at the bottom end of the suggested price range - and dropped to 155p after one hour before closing at 158p.

The launch price valued the Flintshire-based firm at �843m - the UK's largest-ever web firm flotation.

Launched in 1999, the site helps consumers compare financial products such as mortgage rate and loans.

Investor caution

The company had hoped its shares would launch as high as 210 pence each - which would have valued it at about �1bn.

However the lower listing price suggests that there has been caution in the listing from investors, analysts said.

Chief executive and co-founder Simon Nixon, stands to make about �100m from the flotation - which sees about 43% of the firm put up for sale.

His fellow co-founder Duncan Cameron left the company in 2002 and recently sold his stake in the firm to Mr Nixon for �162m.

Money raised from investors will be partly used to pay off the debt built up in buying Mr Cameron's stake.

Mr Nixon said that he was not disappointed with the price.

"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," he said.

"We have enjoyed being able to talk to the market about moneysupermarket.com's story and are pleased with the response we have received."