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November 20, 2006
French Online Real Estate Ads To IPO
An IPO is imminent for Seloger.com Groupe (formerly Poliris), the Paris-based company behind online real estate ads sites Seloger.com and Immostreet.com. The float will be on Euronext and it's slated for December 1. The company hopes to sell around €197M worth of shares, a little less than half of which will be new shares.The mid-bookbuilding share price gives it an implied valuation of around €390M.
About half the company's share will be in free float. If successful, it will mean a realization, at least on paper as it was not disclosed who is selling shares in the offering, for some of its VC backers, such as 3i, which acquired 34 percent of company for €60M a year ago.
Seloger.com Has Added Some Web 2.0ish Price Comparison Features This Year
Read - Castles of France.com (the alarm:clock)
Posted on November 20, 2006 10:43 AM | Posted to News And Updates | Online services | Permalink
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