Foxtons considering an IPO
The owner of estate agent Foxtons is planning to debut it on the stock exchange, the Financial Times has reported.
BC Partners bought the property group from Jon Hunt in 2007 for around £375m. It is believed that the company hasn’t started the process of appointing a bank for the float yet.
A source told The FT: “The business has bounced back, it would be silly of them not to consider it. Like any investors, they would happily sell it and move on.
“But given the sensitivity of the investment, they will want it to be handled properly.”
BC Partners was left with extensive debts in 2008 after the property market crashed. Lenders took control of Foxtons in 2010 but BC Partners bought back the stakes last year.
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