Hunters looks to launch on stock market this summer

Hunters is looking to launch on the stock market this summer.

The fast-growing group, based in Yorkshire but with a national franchised operation, announced in February its plans to go public.

It recruited Harry Hill, former boss of Countrywide and founder of Rightmove, as its new CEO to steer it through the flotation.

Often companies float quite quickly after announcing their stock market ambitions. ­ For example, Foxtons floated in around three weeks, and Countrywide and Zoopla within a month or their announcements.

In February, Hunters also announced that before launching on AIM it would aim to raise funds privately on a pre-IPO (Initial Public Offering) basis by inviting investors, including both staff and partners, to buy shares.

At the weekend Ed Jones, Hunters finance director, told Eye: “We were over-subscribed by more than 30% and so are scaling back investors over the next couple of weeks.

“At this stage we are progressing with our plans and are looking towards the summer to hit the market.”

Last year Hunters opened 31 branches. To the end of March (Quarter 1) it opened a further six branches, with two more this month, bringing its total number to 136. It is understood that further expansion could include bringing independent agents into its business.

Jones added: “We have not seen the scale of dip we might have ordinarily expected in an election year, and the signs are encouraging.”

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One Comment

  1. Special Agent 61

    Was I really dreaming or did I see in a previous article that Hunters were looking for 1.25m? of funding.

    In days gone by Mr H would have treated this as loose change if he were to be believed.

    How the mighty fall.

    Never mind just think about all those expense claims in the future!!!!!!!!!

     

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