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Zoopla confirms stock market flotation plans

Online property group Zoopla has confirmed it plans to list on the London Stock Exchange in a move that could value the firm at over £1bn.

Zoopla, whose brands include PrimeLocation, SmartNewHomes and HomesOverseas, says the share sale will comprise two offers – one to institutional shareholders and another to members.

In January, Sky News reported that the planned initial public offering could value the company at £1.3bn.

Zoopla chief executive Alex Chesterman says: “We have built strong and trusted brands with high engagement levels across our platform as a result of our passion for innovation and differentiation and our mission of becoming the consumer champion in the UK property market.

“I am very proud of what the team has achieved to date and we are incredibly excited about the opportunities ahead to continue to grow our brands and business.

“We’re confident about our future as we embark on the next stage of our development as a public company on the London Stock Exchange.”

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