DMGT to Sell Zoopla Shares
Published / Last Updated on 21/05/2014
DMGT to Sell Zoopla Shares.
It has been confirmed that the second biggest property search website Zoopla will sell shares on the London stock exchange.
Owner Daily Mail & General Trust (DMGT) confirmed that it was planning on floating the Zoopla group which also owns websites SmartNewHomes, PrimeLocation and HomesOverseas.
Zoopla averages around 40 million users per month and is currently the second biggest property search website for the UK, competing with Rightmove.
It has not been made public how much DMGT wishes to reduce its current stake in the company by.
Zoopla currently advertises around 90% of the residential property market and makes its income from charging a subscription to those who wish to list their property on its website.