18 Jun 2014 07:02
18 June 2014
IPO of Zoopla Property Group PLC (the "Offer") - Announcement of Offer Price
Countrywide plc ("Countrywide") notes today's announcement from Zoopla Property Group PLC ("Zoopla") that the IPO price has been set at 220 pence per share implying a total market capitalisation of Zoopla of £918.8 million.
As part of the Offer, 9,080,801 Zoopla ordinary shares are being sold by Countrywide (prior to the exercise of the 10% over-allotment option), representing 2.2 per cent of the 417,642,460 Zoopla ordinary shares that will be in issue at Admission. Gross proceeds realised by Countrywide will be £19.9 million (prior to the exercise of the over-allotment option). Countrywide has made available up to 952,421 Zoopla ordinary shares that are subject to the over-allotment option.
Following admission, Countrywide will continue to hold 4.1 per cent. of Zoopla's ordinary shares (assuming the full exercise of the over-allotment option), which are subject to a 180 day lock-up.
The Board is considering the appropriate use of the proceeds and will make a further announcement regarding this in due course.
Enquiries:
Media Caroline Somers Head of Communications +44(0)7515 919588 | Investors Jim Clarke Group Chief Financial Officer +44(0)7970 477299 |
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