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/

London house prices to fall up to 5pc as sellers abandon the market

New stock is drying up as vendors sit tight until the general election, says RICS


http://www.telegraph.co.uk/finance/personalfinance/houseprices/11346743/London-house-prices-to-fall-up-to-5pc-as-sellers-abandon-the-market.html

For those shorting looks like the odds of heading further South are in their favour. Reading the above looks like a stagnant London market, certainly to after the elections.
I suppose there could be a small jump in the sp if the figures come in on target . Foxton's IPO was at the time of a boom in house sales and prices in London in 2013, may not see this again in those volumes in the near time. If the sp falls much further the sp will need a near on 50% rise just to get back to its ipo price.

just for general info .....

my contact at an upmarket agent in london says that both sales and lettings are surprisingly strong
peeps seem to have taken the view that there's little point in fretting about extra stamp duty, as it's a fact

FOXT
is very much lower range and their properties will not generally fall into the heavy extra stamp duty bracket
if peeps holding back from buying, then they are more than likely to rent

therefore, imo, the slump in FOXT shares is o'done even if the market doesn't think so

Thanks for the info. :-))

Thanks for that cynic.

always a pleasure; it's good to get first-hand info from people in the field

Comment from a poster over the road;

"Re Foxtons and housing market, my son put his flat on the market @ 9.00am today with one of their outer London offices. First viewing literally now and 15 booked for over the weekend - now thats service and why people use them!"

i hold the shares, though on a personal level, i don't like the company aggressive approach

nevertheless, they are exceedingly efficient and effective, getting plenty of footfall through the properties and thus results

i know i go against the flow, but i am not gloomy of FOXT's behalf at all, not only for the reasons above, but also because their main market on the sales front, is medium range - ie not much affected by the new stamp duty levels - and where they don't sell, they let

Lettings will be ok, but reports across the road from a so called insider indicates bad trading in the shops for houses.

Have you checked CWD, reported yesterday......profit warning and they arent as exposed to London as much as FOXT.

See what they say about London and med term trading.

Stock as fallen through support floor.

Be very careful.

for my sins i hold both FOXT and CWD, but not with short-term trading in mind

FOXT is very much london based, but i think CWD is more widespread

My report came from Winkworth, which is quite small but very good in central london (don't know there other branches)

Manuel,

Are theses the ones you bought at about 300 sometime in Oct 13?

yup, i'm afraid so, though i have had plenty worse

Doodlebug 3 1/2

mikey, try Specsavers, it went up 10p today = 6.25%. How did HOC do?


"mike740
23 Jan'15 - 16:30 - 477 of 483 0 0


No not at all, just look how far up shorts were opened.

In the scheme of things its hardly moved today.
The whole sector as risen on some 2nd rate broker note."

Napoleon,

So have I.

Held Carter once.

Still curse and hope it taught me something.

doodlebug4 - 23 Jan 2015 17:25 - 114 of 115

mikey, try Specsavers, it went up 10p today = 6.25%. How did HOC do?


"mike740
23 Jan'15 - 16:30 - 477 of 483 0 0


No not at all, just look how far up shorts were opened.

In the scheme of things its hardly moved today. The whole sector as risen on some 2nd rate broker note."

DB 3 1/2....................





Then, Tara to use this on you.....

Would you like me to post a picture of a bottle of Lithium pills for you?