Zoopla homing in on £1bn flotation

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PROPERTY website Zoopla is said to be laying the foundations for a stock market float that could value it at more than £1bn.

Founder Alex Chesterman could net a fortune of more than £100m from the share sale after starting the company six years ago, according to the Sunday Times.

It comes amid City speculation about a raft of potential flotations as signs of economic optimism grow, including an improving property market buoyed by Government initiatives such as the Help to Buy scheme.

A Zoopla spokesman said: “As one of the fastest-growing online businesses in the UK, our focus is on continuing to develop our brands and business in a sustainable way.

“We work with various advisers and have recently engaged Credit Suisse to help us explore further strategic opportunities as we continue to grow.”

Sources close to Zoopla stressed that a stock market float was just one of a number of options that would be considered.