Zoopla Property Group IPO Price Range

zooplapropertyOn 22 May 2014, Zoopla Property Group announced its intention to make an IPO on the London Stock Exchange. (See previous DigiNet reporting and an overview of the offer.) DMGT intends to participate in the IPO and reduce its stake in Zoopla. DMGT currently holds a 52.6% stake in Zoopla.

The price range is set at 200 pence to 250 pence per share. The mid-point of the price range implies a market capitalisation for Zoopla of approximately £940 million. The base deal offer size is in the region of 111 million to 179 million shares, representing between 27% and 43% of Zoopla’s existing issued share capital. The Offer comprises the sale of existing shares only.

Final pricing is currently expected to be announced on or around 19 June 2014, with conditional dealings in the shares on the London Stock Exchange beginning the same day. Admission and unconditional dealings in the shares are expected to commence on or around 24 June 2014.

UK, London

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