Shares in MF Global, the US brokerage, suffered a weak Wall Street debut on Thursday after being priced far below the indicative range set by its owner MAN Group, the latest sign of nervousness surrounding companies with exposure to the credit markets.

MAN said the flotation of 80 per cent of the fund’s shares would raise a gross total $2.9bn when they list in New York later on Thursday. Last month MAN Group said it hoped to raise up to $5bn from the listing of MF Global, which is the world’s largest non-bank broker of futures and options and a dominant operator in the US retail derivatives market, after setting an indicative range of $36 to $39 a share.