Shares in famous fashion label Burberry began trading on the London Stock Exchange on Friday at an initial price of 230 pence per share. The offer price valued the 146-year-old company at £1.15 billion after owner GUS decided to sell a 22.5 per cent stake in the brand. Earlier this week, GUS was forced to dismiss rumours it planned to delay the IPO at the last minute due to uncertain market conditions.