Zeus Capital bring OnTheMarket Plc to AIM in £100m float

Zeus Capital

Zeus Capital acts as Nominated Adviser and Sole Broker to OnTheMarket plc (LON:OTMP) on its £100m AIM IPO and associated £30m institutional placing.

OnTheMarket is the parent company of Agents’ Mutual, which owns and operates the UK online residential property portal.

OnTheMarketThe company was admitted to trading on 9th February 2018 with a market capitalisation (based on the placing price of 165 pence) of £100 million.

A substantial portion of the funds raised will be committed to support broad marketing campaigns through television, digital, local radio and poster and press advertising, in addition to increased PR and social media activity.

Funds will also be committed to the expansion of the Group’s sales and customer relationship management organisation and its technology development capacity. This will underpin the strategy to not only attract more estate agents and other property advertisers to use the portal but also to grow the levels of traffic and engagement with property-seekers.

The company is the third biggest UK residential property portal provider in terms of traffic.

Zeus Capital is one of the leading advisers to AIM-listed companies by IPO funds raised. In 2017, Zeus Capital raised £348m for companies listing on AIM which represented an 18% share of total IPO funds raised. The IPO of OnTheMarket is Zeus Capital’s first IPO for 2018.

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Our demutualisation received overwhelming support from members. We are pleased to have listed and to have raised new funds to challenge the two leading incumbent portals. We are excited about this new chapter in OTM’s development, which will strengthen our market position, and benefit our agents, investors and consumers using our services.

With its unmatched record in AIM listings, Zeus Capital has played a key role in making this transaction happen. On behalf of the OTM team, I’d like to thank the Zeus Capital team for the commitment, expertise and energy they have shown in supporting us and in delivering the deal. – Ian Springett, Chief Executive Officer of OnTheMarket plc

I am delighted that Zeus Capital has enabled OTM to successfully list on AIM. We believe that this next stage of development for the platform truly enables OTM to rival the two major existing portals. Zeus Capital has worked with OTM for some time and this deal marks our first IPO for 2018. We are proud to have been involved in this transaction and I thank the whole team who worked tirelessly to ensure we achieved a successful conclusion to this deal. – John Goold, Chief Executive Officer of Zeus Capital Limited

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