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OnTheMarket share slide takes its market capitalisation to under £90m

OnTheMarket’s share price fell just over five per cent yesterday, continuing its troubled launch on to the London stock exchange. It lost around 10 per cent on Friday.

This is in contrast to Rightmove’s share performance, up almost one per cent, and ZPG, up just over half a per cent.

Yesterday was a relatively volatile day for OnTheMarket, which opened yesterday morning at 148p - its closing price on Friday following a 10 per cent fall on what was the portal company’s first trading day.

Yesterday the slide continued and at one point it was down to 137p before rallying a little to 140p and then dipping again.

The London Stock Exchange official data page shows that it dipped to 138p at 4.23pm.

This price values the company at £89.59m; in August, when the float was announced, the company said it hoped to achieve £200m to £250m.


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