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Foxtons IPO prices at top of range with £649m valuation

20 Sep 2013

UK estate agency Foxtons, which is backed by European private equity firm BC Partners, priced its London listing at the top of its range at 230 pence per share, valuing the company at £649m.

The IPO raised £335m for exiting shareholders, Reuters said, with £55m of new shares sold towards the reduction of the company’s debt.

BC Partners was first said to be seeking a public listing for Foxtons in June of this year.

BC first bought into Foxtons for £360m in 2007, though lenders took control of the company three years later in the midst of a property crash. It then reinvested in the company and regained majority ownership last year.

The London-based firm hit its €6.5bn hard cap for its latest fund last year.

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