Online estate agency Purplebricks says it is likely to make an Initial Public Offering in the second quarter of 2016 ahead of full listing on the Alternative Investment Market.
"Our view is that an IPO in 2016 is a natural evolution for the business" says Paul Pindar, a former chief executive of outsourcing group Capita Plc and one of the biggest investors in Purplebricks - he owns around five per cent of the company.
Pindar - in an interview with the Reuters news agency - says he expects a pre-IPO financing round to take place in quarter three of this year; Purplebricks’ first two financing rounds, held in the first and third quarters of last year, raised £3m and £8m respectively.
Purplebricks was launched in April of last year by former high street estate agent brothers Michael and Kenny Bruce and has won a series of high-profile and well-funded investors and admirers.
South African entrepreneur Errol Damelin, founder of payday lender Wonga, is an investor, as is Goldman Sachs’ head of investment banking, Anthony Gutman. Neil Woodford, one of the world’s most successful fund manager, bought a 30 per cent stake in the online agency last summer.
Recently the agency hired Joby Russel to spearhead advertising and marketing, a role he also still has at price comparison site Confused.com.
Purplebricks allows home-owners to sell their properties for a flat fee of £665 plus VAT. It began selling in south east England but is now in several other parts of the country and is this month officially launching in London.
Hunters and easyProperty are two other high profile agencies with public ambitions to float in the near future.