EasyProperty plans IPO this year

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EasyProperty is planning an initial public offering in the latter half of this year, chief executive Rob Ellice has announced.

Ellice states that he intends to raise a “significantly larger” amount than the £9.75m that was raised via a share placement last September.

“We’d like to see someone of a larger scale put a bigger chunk of money into the business,” says Ellice, who confirmed the company had been in talks with funds in France, Germany and the US. “I think we’re looking at both an IPO and a pre-IPO round at the moment.”

EasyProperty follows other online estate agents Purplebricks and Hunters UK in announcing its intention to go public before the end of the year. The company is the invention of Stelios Haji-Ioannou, the founder of EasyJet; in the past six months, it has acquired licenses for operation in France, Germany, Greece, Italy, the Netherlands and Spain, and is said to be in talks with local partners in other countries. A launch is planned in Scotland in the near future.

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