Foxtons to capitalise on London’s soaring housing market

IPO could mean bosses seeing their share up to £100million, as property sector remains buoyant.

10:20 27 August 2013

There could never be a better time for Foxtons to announce its imminent stock market floatation than now when London housing market is soaring high. The company, which is probably best known for its fleet of “X-ray” Mini Coopers, is believed to be announcing its IPO plans on London Stock Exchange anytime this week. The company’s floatation is likely to value from £400million - £500million.

According to reports, Foxtons has applied for the re-registration in regards to a public offering recently and that Canaccord Genuity and Numis Securities have been appointed as bookrunners.

The highly anticipated move may mean great fortune for BC partners. There are reports that bosses could end up with £100million from the stake they hold in the company.

Foxtons move to re-register in the stock market comes after the £750million floatation of rival Countrywide in March. Other firms that have been listed on the London Stock Exchange this year include life insurer Partnership Assurance, Conviviality Retail, and Esure, a car insurance company.