Find out more about the Zoopla IPO: http://www.ig.com/uk/zoopla-ipo-grey-market
Zoopla, the second largest property portal in the UK, took many by surprise by finally floating on the London Stock Exchange on Wednesday 18 June – a day earlier than many investors and analysts were expecting.
Zoopla had stated that the price of its shares will be between 200p and 250p. At that price the company would be worth between £850 million and £1.04 billion. CEO Alex Chesterman’s 8% holding in the company would be worth as much as £83 million.
Shares in the company were actually priced at 220p, just below the middle of the 200-250p price range, valuing the company at £918.8 million. On the day of the float, in conditional trading, the shares climbed as much as 7.7%, giving the company a valuation of £990 million. Zoopla’s shares finished the day at 227p, up 3%.
Management of the company is restricted from selling shares for the first 12 months of trading.
What does Zoopla do?
Zoopla provides a searchable directory for residential properties in the UK. It combines information from the Royal Mail’s database, HM Land Registry and Google maps to provide in-depth information about UK properties. Users of Zoopla can also contribute their own information in order to give a more comprehensive view of the property.
Zoopla company history
Tech entrepreneur Alex Chesterman founded Zoopla in 2007. The Zoopla website went live in 2008. By 2010, Zoopla was attracting 1.6 million visitors a month. This made it the second largest property portal after Rightmove. Currently, the largest shareholder in Zoopla is the Daily Mail & General Trust which owns 52.6% of the business.
Zoopla has been named both one of the top 10 UK tech companies by the Guardian newspaper and one of the ten most innovative UK companies by Smarta. Currently the Zoopla website gets more than 20 million visitors every month. The Daily Mail & General Trust has stated that Zoopla’s revenues have increased 26% year-on-year and now stand at £38.3 million.
The Daily Mail & General Trust, said it planned to keep at least 31% of its stake in Zoopla. It had owned 52% of Zoopla before the
The news of a Zoopla’s IPO has caused much excitement among the Daily Mail & General Trust’s own shareholders. Since the announcement, the company has seen a 5.39% rise in their own share price.
List of major upcoming IPOs with IG: http://www.ig.com/uk/ipo-list
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