Founded in 1981, Foxtons started life as a two-person agency in Notting Hill. Over the years we are proud to have become London's leading estate agent.


Estate agency Foxtons Group has announced the successful pricing of its IPO of 169.4m shares of one pence each. The price has been set at 230p per share.

Based on the Offer Price, the market capitalisation of the Company will be approximately £649m on admission.

The Offer is expected to raise gross proceeds of approximately £390m, comprising a primary component of £55m and secondary sales of £335m. Secondary sales will consist of a partial sell-down by Adnams BBPM Holdings Limited (an entity controlled indirectly by funds advised by BC Partners), executive directors of the Company and certain other employees of the Group.

Conditional dealings will commence on the London Stock Exchange at 8.00 a.m. today under the ticker FOXT.

Admission to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange and the commencement of unconditional dealings in the Shares ("Admission") are expected to take place at 8.00 a.m. on 25 September 2013. At Admission the Company will have 282,176,468 Shares in issue.

http://www.foxtons.co.uk/

Agree, Could do a lot worst.

steady on old chap! ..... fossy will be chasing you with a big stick for agreeing with me if you don't watch out :-)

I was actually agreeing with the sentiments in DC's post... So don't flatter yourself sunshine -):

that was from nearly 2 months ago!

...Well I'm not the quickest granted -):

hey sticky, did you do as I told you a week or so back?
zippy-de-doo-dah :-)

wakey wakey sticky ...... been telling about this one for ages - sp currently 395

figures out 11/3 apparently

Nothing wrong in changing your mind, well done. :-))

cynic - 21 Sep 2013 11:38 - 5 of 54

i really do not like Foxton's ethics and ethos - far too sharp and aggressively pushy - so would never use them nor buy their shares

the first part remains true, but as in legal actions, what price principles? :-)

At the end of the day its made you money. :-))

quite so, and hence my previous comment

But look at the lofty P/E............

Foxtons Group PLC

FORECASTS

2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Canaccord Genuity Ltd
06-12-13 BUY 37.10 10.80 47.10 13.00
Numis Securities Ltd
07-11-13 ADD 37.40 9.10 47.00 13.10 16.80
2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 37.24 10.00 47.05 13.05 16.80
1 Month Change 0.00 0.00 0.00 0.00 0.00
3 Month Change -0.00 0.02 0.00 -0.00 0.00
GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 16.13% 36.74% 30.50%
DPS % % %
INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA £36.71m £45.21m £51.92m
EBIT £33.11m £41.37m £46.95m
Dividend Yield 0.00% % 4.21%
Dividend Cover x x 0.78x
PER 54.54x 39.89x 30.57x
PEG 3.38f 1.09f 1.00f
Net Asset Value PS -22.30p p p

no one forcing you to part with your money
it'll be interesting to see how good the numbers and forward statement are, following which the market will no doubt react
quite possibly or even probably some profit-taking, but the what?

meanwhile, the shenanigans in ukraine could blight all markets

Oh indeed indeed. Ruskies running riot.

Think I should have put rightmove up to compare.

Here we are a bit cheaper but not much in it..........

Rightmove PLC

FORECASTS

2014 2015
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Peel Hunt LLP
28-02-14 SELL 110.26 83.53 29.10
Panmure Gordon [R]
28-02-14 BUY 119.00 94.40 30.00 135.00 109.00 34.00
Canaccord Genuity Ltd
28-02-14 HOLD 102.00 129.00
Exane BNP Paribas
28-02-14 BUY 112.00 85.73 26.64 131.00 102.92 32.00
Numis Securities Ltd
28-02-14 BUY 118.00 91.40 32.00 129.80 100.60 36.00
Investec Securities
02-01-14 HOLD 114.70 87.92 34.26 129.10 102.81 40.08

2014 2015
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 115.23 89.96 30.70 129.97 103.52 35.18
1 Month Change 1.39 0.96 0.55 -1.03 -1.32 2.20
3 Month Change 1.92 0.55 1.10 -2.98 -2.37 2.20

GROWTH
2013 (A) 2014 (E) 2015 (E)
Norm. EPS 22.48% 23.60% 15.06%
DPS 25.00% 22.80% 14.58%

INVESTMENT RATIOS
2013 (A) 2014 (E) 2015 (E)
EBITDA £m £117.84m £135.00m
EBIT £m £112.00m £131.00m
Dividend Yield 0.91% 1.11% 1.28%
Dividend Cover 2.91x 2.93x 2.94x
PER 37.85x 30.62x 26.62x
PEG 1.68f 1.30f 1.77f
Net Asset Value PS p 5.50p 2.40p

they're both good in their own way .... my preference for FOXT is, as much as anything, based on the fact that they are focussed on london and its periphery, which is unquestionably where the growth is

Probably go PLOP tomorrow like most overvalued stocks.

Anyone have the beta for it??.

N/A or ------ I have found goldfinger.

Digital Look normally carry them but dont have one yet.

Hope traders are setting about getting ready for a big down day on the market tomorrow.

Get some hedges in place.

Perhaphs Gold will do well for a while.

i already had a small dow short, but when i went to bed, the markets were still shut so couldn't add