Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Zoopla prices shares at 200p-250p

Zoopla prices shares at 200p-250p

Online property group Zoopla has set its offer price at between 200p and 250p ahead of the start of conditional dealings on 19 June.

The price values Zoopla, which is currently 52.6% owned by the Daily Mail and General Trust (LON:DMGT), at between £833mln and £1.04bn.

The range gives Zoopla a price-to-earnings ratio lower than that of its main rival, Rightmove (LON:RMV).

Conditional trading, when institutions and Zoopla’s subscribing members can start dealing the shares, begins on 19 June, followed by the start of unconditional trading, which includes retail investors, on 24 June.

The fast-growing group laid out its plans last month for its flotation in which it said subscribing members – that means estate agents, lettings agents, new home developers, and franchisors – will be able to get their hands on up to £2,500 of stock at a 20% discount to the offer price.

Zoopla aims to sell up to 179mln shares, representing 43% of the existing share capital.

The final pricing will take place in a fortnight.

Zoopla’s founder and chief executive Alex Chesterman, who holds an 8% stake in the business, said: “Today's announcement reflects the strong level of investor interest in our business and underlines the growth potential of Zoopla Property Group. 

“We have been delighted with the response to the news of our intention to float, including from our members who will have the opportunity to participate in the initial public offering and become shareholders in our business.”

Questions have been asked about the timing about the float given the recent instability in the IPO market.

Today’s shock profit warning from online superstar ASOS (LON:ASC) will not have helped matters.


View full DMGT profile View Profile

Daily Mail and General Trust Timeline

Newswire
December 05 2017
Newswire
December 22 2016

Related Articles

Email
August 15 2018
Milan Patel, dotdigital’s chief executive officer said: "This year reflects substantial progress against the company's strategic aims in accelerating our platform capabilities into the omnichannel space, continuing to innovate our product, growing geographically and deepening our relationships with our strategic partners”
Marketing and public relations
April 04 2018
"Our Beyond, MBooth and Publitek agencies have been stand-out performers, whilst we have achieved solid performances pretty much across the portfolio"
Students in a class
August 27 2018
The company is gaining traction in Asia where people are looking to take language courses to work or study internationally

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use