UK property website Zoopla to detail share listing plans – report

May 18, 2014
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LONDON, May 18 (Reuters) – British property website Zooplawill announce plans this week for a stock market listing thatwill value the company at about one billion pounds ($1.7billion), the Sunday Times newspaper reported.

The flotation would be a boost for newspaper publisher DailyMail and General Trust (DMGT) which controls 51percent of the seven-year-old company, the report added.

Plans were likely to be confirmed on Thursday when DMGTreleases it latest financial results. DMGT will sell a”substantial number” of shares in the offering although it wantsto remain the largest investor, the report added.

Zoopla refused to comment directly on the report but aspokesman referred to a statement made earlier this year.

“As one (Other OTC: IUSDFnews) of the fastest growing online businesses in the UK,our focus remains on developing our business in a sustainableway. Meanwhile, we are continuing to work with our advisers toconsider our strategic options,” it said.

Zoopla is Britain’s second-largest property website afterRightmove Plc (LSE: RMV.Lnews) . Its underlying earnings rose 26 percentto 18.7 million pounds between October and March, the SundayTimes said.

($1 = 0.5942 British Pounds) (Writing by Keith Weir; Editing by Sophie Hares)

  • Director Dealings
  • Budget, Tax & Economy
  • DMGT
  • Zoopla

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