Comparethemarket.com looks set to join rivals Moneysupermarket.com and Gocompare.com with a stock market listing – a move that would value the company at as much as £2 billion.
Two months ago we told you that Comparethemarket.com was eyeing a stock market listing (see our original report
here) and now, according to a
Sky News report,
BGL Group, the parent company of the comparison giant, has initiated both Morgan Stanley and JP Morgan to take the leading roles in the floatation.
The company, renowned for its advertising campaign involving meerkat characters, has reaped the rewards of an increasing volume of customers looking to secure the cheapest available deals for essential services ranging from car insurance to utilities.
However, while the price comparison sector has enjoyed rapid growth, it has also been subject to an increasingly large level of scrutiny over issues such as a lack of transparency over the commissions paid by the insurers on its websites.
BGL also owns several insurance brands, including Dial Direct, and has a loss-making French operation known as Les Furets that is also reported to be part of the floatation.
Details have not yet been revealed as to when the floatation will take place – but the bulk of analysts suggest it will be in the first quarter of 2017, depending on market conditions.
Meanwhile, owners of rival firm Gocompare,
Esure, are said to still be considering a potential demerger.
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Comparethemarket.com owner eyes £2 billion float
