Menu visibility control

Subscribe Now

Video

Startup Surgery

Events

most recent

FinTech

Why blockchain tech ‘could transform financial services forever’

News

Startup Weekly: OVH accelerator, Innovate UK grant & more

News

Mustard Seed launches new £25m venture fund to invest in tech for good

Property site Zoopla to IPO on London Stock Exchange

_ABU6934, 6934
twitterlinkedinfacebookgoogle_plustwitterlinkedinfacebookgoogle_plus

Property website Zoopla has announced plans to list on the London Stock Exchange.

Britain’s second-largest property website, behind Rightmove, will sell some of the existing owners’ shares to give a free float of at least 25 percent, but won’t issue new shares.

Zoopla’s existing shareholders include founder Alex Chesterman, majority owner Daily Mail & General Trust and Countrywide.

The move follows recent listings by online groups Just Eat and AO World, as well as property agent Foxtons last year.

Hot property

Launched in 2008, Zoopla reported six-month revenue to March 31 of £38.3 million and adjusted core earnings of £18.7 million.

As well as launching more products and services, CEO Chesterman said they plan to expand into other parts of the property market, such as commercial property, with overseas expansion a possibility in the future.

alex-chestermanWith over 40 million visits per month to our websites and mobile applications, generating over two million inquiries every month for our members, Zoopla Property Group has become an indispensable link in the property search process.

IPO details

Chesterman declined to forecast how much the share sale would raise but said he expected DMGT to remain the largest shareholder.

An overallotment option of up to 15% of the total offer will be made available.

UBS said the listing could value the company at about £1.2 billion, while analysts at Liberum value DMGT’s 52.6% stake at £575 million.

twitterlinkedinfacebookgoogle_plustwitterlinkedinfacebookgoogle_plus

  • http://twitter.com/joelblakeAGP Joel Blake

    2014 – Official Year of the IPO :) “: Property site Zoopla to IPO – http://t.co/PJriQ3AoGH http://t.co/RDV6EGdSds”

  • http://twitter.com/joelblakeAGP Joel Blake

    2014 – Official Year of the IPO :) “: Property site Zoopla to IPO – http://t.co/PJriQ3AoGH http://t.co/RDV6EGdSds”

  • http://twitter.com/Gibo2014 OG

    @oliverpicton Check out the latest news in the City………..

  • http://twitter.com/Gibo2014 OG

    @oliverpicton Check out the latest news in the City………..

  • http://twitter.com/myfootballfacts My Football Facts

    @robkerry I’m guessing their not hiring Nicolas Anelka to act as their spokesman?

Editor's picks

blockchain transform

Why blockchain tech ‘could transform financial services forever’
posted 6 hours ago

startup weekly today

Startup Weekly: OVH accelerator, Innovate UK grant & more
posted on April 29, 2016

Henry Wigan2

Mustard Seed launches new £25m venture fund to invest in tech for good
posted on April 29, 2016

4H5A9186

Nokia acquires Withings for €170m, UK Government explores using blockchain & more in your Week in Tech
posted on April 29, 2016

BioBeats

BioBeats closes $2.28m funding round led by White Cloud Capital
posted on April 28, 2016

HouseTrip

London travel tech firm HouseTrip acquired by TripAdvisor
posted on April 28, 2016