Purplebricks launches on the Stock Market today.
Purplebricks Group PLC announced today the commencement of dealings in its Ordinary Shares on the Alternative Investment Market (AIM), Purplebricks aims to change the whole experience of selling, buying and letting residential property, by providing a transparent and superior customer service at a fraction of the cost of a traditional estate agent.
The placing price per ordinary share is at 100p, this equates to Market capitalisation at the placing price of £240.3 million
Gross proceeds of the Placing for the Company £25.0 million
Percentage of enlarged share capital in public hands on Admission 24.2%
Market capitalisation at the placing price £240.3 million
Michael Bruce, Chief Executive of Purplebricks Group plc, reportedly said: “Purplebricks’ successful listing on AIM today represents a major milestone in the evolution of the business over the last four and a half years and is testament to the team’s hard work and commitment. The funds raised will allow us to further deepen our presence across the UK through additional investment in people, technology, infrastructure and marketing to deliver our ambitious growth plans as well as value for all of our shareholders.”
At approx 9.00am the shares were trading at a small discount to placing price at 97.5p middle.