Rightmove Plans Stock Market Float
Property website appoints advisers with view to floating later in year
12th August 2005
Property sales website Rightmove have appointed legal advisers, financial advisers and accountants in the next stage of their progress towards a stock market float.
It is anticipated that the IPO (Initial Public Offering, or float) could happen before the end of the year, with some analysts valuing the company at over £200m.
Rightmove acts as a central database of UK property currently on sale, with 11,000 estate agents - 60% of the UK's total - advertising their property stock on the site. The company claim to be the UK's premier property site, and the 14th most popular site overall.
Rightmove has also expanded into lettings and rentals, plus overseas property and holiday rents, all available on it's continuously updated site.
Read More: Money Guardian : Rightmove website plans float, Rightmove.co.uk
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