British estate agent Foxtons valued at $1 bln in London listing
LONDON, Sept 20
LONDON, Sept 20 (Reuters) - Private-equity backed British estate agent Foxtons priced its London listing at 230 pence per share on Friday, valuing the company at 649 million pounds ($1 billion).
That was the top of the 190 pence to 230 pence per share range the London-focused group had set for the offering, which was oversubscribed.
The sale raised 335 million pounds for selling shareholders, which included majority owner BC Partners as well as company employees, while 55 million pounds raised from the sale of new stock will go to the company to reduce debt.
Shares in Foxtons will begin trading at 0700 GMT.
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