Aggregator announces details of its July floatation
Moneysupermarket.com will float on the London Stock Exchange at the end of the month at a likely valuation of over £1bn.
The online comparison website today said the price range has been set from 170 pence to 210 pence per ordinary share. It will comprise of approximately 204 million shares and represent approximately 41% of the issued share capital of the company.
A float at the mid-range would value the company at £1.05bn.
Moneysupermarket said it aimed tol raise £180m through the issue of new ordinary shares, which would be used primarily to pay down debt and fund the company's expected growth.
Simon Nixon, chief executive, moneysupermarket, said: "We are delighted to be announcing this next stage of our planned flotation. We look forward to becoming a public company with the benefits it will bring."
Nixon intends to sell approximately 60.3 million ordinary shares, representing approximately 18% of his holding in the company.
Senior managers and certain current and former employees are also selling approximately 26.5 million ordinary shares.
Nixon and the senior managers will own a majority of the ordinary shares post IPO.
