Purplebricks will become the first British online estate agency to float on Aim, London’s junior market, when it goes public this month with a market value of £240 million.
Backed by Neil Woodford, the high-profile fund manager, and Wonga founder Errol Damelin, Purplebricks has raised £58.1 million from institutional investors as it looks to expand its national presence. The IPO will raise £25 million for the company and £33.1 million for some of Purplebricks’ shareholders who are selling stock as part of the placing.
Read the full story at The Telegraph, by Eleanor Steafel
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