THE online fashion sale site backed by tycoon Sir Philip Green, has plunged on its stock market debut after an error in the pricing of its stock.

MySale began trading at 226p yesterday but slumped as low as 166p amid confusion over its listing price.

It was forced to issue a market statement saying its Aim-flotation was in pence, but it had mistakenly traded yesterday in pounds.

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On trading screens this made its 226p price appear as 2.26, which triggered ­automatic selling of the stock.

The firm intends to reprice its shares in pence today.