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More than 20% of Zoopla members take up shares

From Property Talk Live on June 18, 2014

Zoopla Property Group Plc (ZPG) will today float on the London Stock Exchange and the company has announced that over 20% of its agent and developer members have taken up their rights to purchase shares at a discount to the offer price in the company’s Initial Public Offering (IPO).

ZPG’s members who have elected to buy shares in the IPO will initially be allocated £9.2m of shares for a total investment of £7.4m. And as part of the exclusive member offer, those members will also be able to purchase the same amount at the same discounted price next year, which will equate to a total allocation of £18.4m of shares and a discount of £3.7m for ZPG members.

Shares in ZPG commenced conditional trading on the London Stock Exchange at 8:00am under the ticker symbol ZPLA and the commencement of unconditional trading is expected to take place at 8:00am on Monday 23 June 2014.

Alex Chesterman, Founder & CEO of Zoopla Property Group Plc said: “We have been delighted with the strong interest and take up by our members to purchase shares in ZPG. The offer was designed to reward our loyal members for their support and we are happy to have been able to extend the discounted offer to our members and to welcome them as shareholders in our business.”

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Source: Property Talk Live