Zoopla online property site considers going public

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Zoopla online property site considers going public

Warwick Ashford

Online property site Zoopla is considering a stock market flotation as the housing market starts to recover.

The website is estimated to be worth £1.3bn and would net founder Alex Chesterman around £100m, according to the Guardian.

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Zoopla has asked investment bank Credit Suisse to help the company explore strategic opportunities as the business continues to grow.

The most likely option is to go public as Zoopla seeks to challenge the dominance of sector-leader Rightmove, according to the Financial Times.

Last week, the Zoopla Property Group paid £3.3m for four property portals from Trinity Mirror, including SmartNewHomes.co.uk, a portal dedicated to new homes, the paper said.

The UK’s largest estate agent, Countrywide, went public in March, and Foxtons announced in August that it plans to do the same.

The estate agents’ move to becoming publicly listed companies follows the announcement of several government schemes to free up mortgage lending, which is expected to boost the UK housing market.

 


Image: Thinkstock


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