Moneysupermarket set for public listing

29-06-2007

Moneysupermarket set for public listing
Price comparison website Moneysupermarket has unveiled plans to float on the London Stock Exchange.

The internet group did not disclose how much it intends to raise in its initial public offering (IPO), but a figure close to £1 billion has been rumoured.

Launched in 1999, the Ewloe-headquartered firm markets itself as the leading travel price comparison website network through its flagship sites moneysupermarket.com, travelsupermarket.com and insuresupermarket.com.

During the last year the group received 64 million visitors and 523 million impressions, with the broadband-driven growth making the proposed IPO a "compelling value proposition" for consumers and providers.

Chief executive Simon Nixon said that the public listing would help to raise the company's profile as a "consumer champion".

"We believe the strength of our brand and market position, combined with our consumer focus and record of innovation, mean we are well positioned to capitalise on the positive trends we see in our chosen markets," he said

Earlier this month Mr Nixon bought a 45 per cent stake in Moneysupermarket from his business partner Duncan Cameron worth £162 million, leaving the chief executive with an estimated 90 per cent claim in the business.


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