Zeus Capital acts as Nominated Adviser and Sole Broker to OnTheMarket plc (Ticker: OTMP.L) on its £100m AIM IPO and associated £30m institutional placing.
9th February 2018
OnTheMarket is the parent company of Agents’ Mutual, which owns and operates the UK online residential property portal OnTheMarket.com.
OnTheMarket is admitting to trading on 9th February 2018 with a market capitalisation (based on the placing price of 165 pence) of £100 million.
A substantial portion of the funds raised will be committed to support broad marketing campaigns through television, digital, local radio and poster and press advertising, in addition to increased PR and social media activity.
Funds will also be committed to the expansion of the Group’s sales and customer relationship management organisation and its technology development capacity. This will underpin the strategy to not only attract more estate agents and other property advertisers to use the portal but also to grow the levels of traffic and engagement with property-seekers.
OnTheMarket is the third biggest UK residential property portal provider in terms of traffic.