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Purplebricks becomes first online estate agent to list in London

Neil Woodford-backed company will float on the stock market this month with a market cap of £240 million

Purplebricks becomes first online estate agent to list in London Real Estate

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.

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