LONDON--Real-estate website Zoopla Property Group priced its
shares toward the lower end of its previously outlined range for
its initial public offering, valuing the company at GBP918.8
million ($1.56 billion).
The company said Wednesday the offer price for its shares would
be 220 pence a share, compared with the 200 pence to 250 pence
range it outlined earlier this month.
Conditional trading in the company's shares will start on the
London Stock Exchange later Wednesday.
Newspaper publisher Daily Mail & General Trust PLC said it
plans to sell a maximum of 40% of its current 52.1% stake in
Zoopla, while property companies Countrywide PLC and LSL Property
Services PLC are also selling some of their stakes.
Zoopla, which was founded in 2007, generates most of its revenue
by charging about 19,000 member estate agents monthly subscriptions
to advertise properties. The company claims to have more than 40
million visits a month to its websites and mobile applications.
Write to Rory Gallivan at rory.gallivan@wsj.com
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