OnTheMarket announces intention to float on the stock market.

OnTheMarket.com the online property portal owned by its members, including property giants Savills, Chestertons and Knight Frank, launched in 2015 announces its intentions to float on the stock market.

Today, 4 August 2017 in a stock market news release announcement- Agents’ Mutual Limited (“Agents’ Mutual”), the agent-owned company which operates the OnTheMarket.com property portal, is pleased to announce its intention to list a new parent company, OnTheMarket plc (the “Company”), on the AIM market of the London Stock Exchange.

OnTheMarket plc will seek to offer a minority stake to investors as part of the IPO with OnTheMarket’s entire issued and to be issued share capital being admitted to trading on AIM.  The objective is to raise approximately £50 million of new equity capital which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider.

 The Company has engaged Zeus Capital as Financial Adviser and Broker to manage a proposed Placing and IPO. The Board, following consultation with Zeus Capital, is seeking a valuation for the Company of between £200 million and £250 million.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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