View more on these topics

Estate agency Foxtons’ owner hires banks ahead of IPO

Corporate-Portfolio-Briefcase-General-Business-700x450.jpg

The owner of estate agency Foxtons has hired banks to prepare for an initial public offering on the stock market.

The FT reports BC Partners, which took Foxtons private in 2007 for £360m, has lined up Credit Suisse, Numis Securities and Canaccord Genuity to run the flotation, in a deal that could raise £400m.

Foxtons, which owns mortgage broker Alexander Hall, was forced into a debt restructuring in 2010 by lenders but BC injected a further £50m to remain its largest minority shareholder.

It is the second major flotation by a property firm this year after Countrywide’s decision to re-enter the stock market in March.

Recommended

3

Robert Sinclair: Should we extend our reach to protection?

Early last year the board of the Ami asked to be released from its parent and sponsor, Aifa. In the intervening period, membership has been extended, the board framework refined and an executive committee formed to deliver a stable financial and support base. The voice provided by the Ami to support the cause of professional […]

Fundscape: Net fund sales down 34% in months after RDR

Fund sales in the first quarter of the year were held back by the impact of the retail distribution review, according to a new report by Fundscape. Gross sales across the fund distribution universe amounted £28.2bn in the first three months of 2013, the report shows, which is 2 per cent down on the previous […]

HSBC hires ex-MI5 director general

HSBC has appointed former MI5 director general Sir Jonathan Evans to its financial system vulnerabilities committee. On 6 August, Evans will join the lender as an independent non-executive director and as a member of the committee which has been specifically launched in order to pinpoint any part of the bank’s operations which could prove vulnerable […]

Comment of the week: The real competition to protection

Reading the comments following the article I can see unfortunately once again the market reacting against anyone trying to move protection in the right direction. 61 per cent of families in the UK have no protection in place – is that a resounding triumph for the way in which protection has been sold in the […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. I will always be in awe of the timing of Jon Hunt’s sale. This one, not so much.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com