Zoopla has set its launch share price at 220p, giving a total market capitalisation of £918.8m.
The price is in the middle of the range first mooted, of 200p to 250p per share. However, the share price immediately went above the 220p mark.
Just 20% of estate agents and developers who advertise on Zoopla have taken up the discounted share price offer – with the majority passing up on the chance to make a quick 20% profit by “flipping” their shares, or to buy another tranche of shares at the same 20% discount next year.
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