ZOOPLA fired the starting gun yesterday on a float that could value
The stock market debut will trigger a windfall for Zoopla's shareholders, including majority owner the
Zoopla, which attracts around 40m visits a month to its sites, said it was seeking a free float of at least 25 per cent, potentially raising £250m for shareholders. It will value Chesterman's eight per cent at around £80m.
The 19,000 estate agents and developers who pay to list their homes on the site will also be allowed to buy shares at a 20 per cent discount to the offer price. The float will not raise any new money for the group.
Zoopla is the latest in a slew of companies to list their shares in
Chesterman, who set up Zoopla in 2007 after co-founding DVD rental chain
"We have created a business that is very attractive to investors and where investors have wanted to get involved for a long time," Chesterman added.
BEHIND THE DEAL CREDIT SUISSE |
2 Sheldon joined the bank after it bought BZW,
3 Outside the day job, Sheldon has done a lot of philanthropic work and helped raise £1m for
Jefferies is joint global co-ordinator, sponsor and bookrunner alongside
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