Zoopla Property Group plc (ZPLA) Climbs After IPO

Zoopla Property Group plc (ZPLA) Climbs After IPO

Shares of U.K. property website Zoopla Property Group plc (LON:ZPLA) climbed yesterday after its initial public offering. Management said they had a lot of interest from institutional investors.

Zoopla raises capital from big investors

Founder Alex Chesterman reportedly sold a 3.5% stake in the company, raking in about $54 million in the sale. Currently shares of Zoopla are trading at a valuation of around $1.53 million on the London Stock Exchange. Atlas Ventures, one of Zoopla Property Group plc (LON:ZPLA)’s major shareholders, also won big in the company’s IPO yesterday. Zoopla had raised $13.4 million from Atlas, SVB and Octopus in previous funding rounds.

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Zoopla Property Group plc (LON:ZPLA) priced its IPO at 220 pence per share and sold 38.3% of those shares to new