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Factbox - UK real estate agents planning IPOs
May 28, 2015 / 11:45 AM / 2 years ago

Factbox - UK real estate agents planning IPOs

(Reuters) - Three British estate agents are drawing up plans for a possible stock market listing, encouraged by the strong performance of European property stocks and the Conservative party’s unexpectedly decisive election victory.

PURPLEBRICKS

* Founded in April 2014 by brothers Michael and Kenny Bruce

* After launching in southeast England, has expanded into most other regions of England and Wales

* Top investors include prominent fund manager Neil Woodford, former Capita Plc (CPI.L) CEO Paul Pindar and the founder of payday lender Wonga, Errol Damelin

* Plans IPO in the second quarter of 2016. Has hired Canaccord Genuity as adviser

* Expects to raise up to 10 million pounds ($15.3 million)via pre-IPO financing round in the third quarter of 2015

HUNTERS UK

* Founded in 1992 by Kevin Hollinrake and John Waterhouse. Hollinrake, formerly managing director, was elected Conservative Member of Parliament for the constituency of Thirsk and Malton at the national election on May 7

* The company’s network is mainly franchised, with about 130 branches nationwide in cities including London, Birmingham, Leeds, Leicester, Manchester, Middlesbrough and Liverpool. The company plans to have more than 500 offices in five years’ time

* Intends to raise up to 2.5 million pounds via a private, pre-IPO placement of shares to investors, including staff and partners (bit.ly/1GD34IY)

EASYPROPERTY

* Founded in the beginning of 2013 by Chief Executive Rob Ellice and Stelios Haji-Ioannou, founder of budget airline easyJet Plc (EZJ.L). The easyProperty brand is on lease from Stelios for 20 years

* Operates as a lettings agent in England and Wales and intends to launch sales in September this year

* To hire another financial adviser along with financial boutique Chrystal Capital Partners

* Company was valued at 66 million pounds at its last fundraising round

* Plans share placement or IPO in the second half of 2015 to raise a “significantly larger” amount than the 9.75 million pounds raised through a share placement in September

($1 = 0.6551 pounds)

Reporting by Esha Vaish in Bengaluru

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