London Stock Exchange welcomes Zoopla Property Group Plc to the Main Market
Zoopla Property Group is a digital media business that owns and operates some of the UK’s leading online property brands including Zoopla, PrimeLocation, SmartNewHomes and HomesOverseas.
The Company sold 417,642,460 Ordinary Shares at a price of 220 pence per share. At the issue price Zoopla Property Group Plc has a total market capitalisation of £919m on admission.
Traffic on the Group’s websites and mobile applications has continued to grow with average monthly visits for the eight months ended 31 May 2014 reaching 41 million, a 37 per cent increase as compared with the corresponding period in 2013. The Group’s mobile channels have continued to deliver growth with total mobile visits and app sessions for the eight months ended 31 May 2014 accounting for 52 per cent of overall traffic. In addition, the Group’s total members reached a record of 19,462 as at 31 May 2014.
Alex Chesterman, Founder & Chief Executive Officer of Zoopla Property Group Plc said:
"We are delighted with our successful listing on the London Stock Exchange. We have received a strong level of investor support in our business which once again underlines the growth potential of Zoopla Property Group. We are delighted so many of our members have participated in our IPO through our exclusive Member Offer and have become shareholders in our business."
"We have a clear strategy to continue growing our business and brands whilst providing great services for our users and exceptional value to our members. Listing on the London Stock Exchange is an exciting next step and we welcome our shareholders as we enter the next phase of our development as a public company."
Joint Global Co-ordinators, Joint Bookrunners and Joint Sponsors are Credit Suisse and Jefferies and Co-Lead Manager is Canaccord Genuity Limited