• Alex Chesterman, Founder & CEO of Zoopla Property Group opens London trading
• Company IPO raises £385 million, valuing it at £919 million
• 17th technology company to list on London Stock Exchange in 2014
London Stock Exchange today welcomes Zoopla Property Group, the digital media business that owns and operates some of the UK's leading online property brands to open trading. Alex Chesterman, Zoopla Property Group Founder & CEO formally opened the market, celebrating the Group's £919 million IPO on the Premium listing segment of the Main Market. The company raised £385 million at admission.
Zoopla Property Group, which owns websites including Zoopla, PrimeLocation, SmartNewHomes and HomesOverseas is the 17th technology business to list on London Stock Exchange in 2014. These 17 companies have a combined market capitalisation of £5.5 billion and have raised £2.2 billion, over 100 per cent more capital than in the whole of 2013.
"Zoopla Property Group's IPO demonstrates the continuing strength of the UK's technology sector and London's ability to finance and support these fast growing businesses. London Stock Exchange is committed to ensuring the UK remains an attractive hub for technology businesses and we are delighted to welcome Zoopla on to the Main Market."
Alex Chesterman, Founder & Chief Executive Officer of Zoopla Property Group 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."