Regional News

OnTheMarket share sag takes its market capitalization to under £90m

By Gordana Davila 0 Comments NEWS, Regional News

The UK's OnTheMarket experienced a share price drop of over five percent on the 12th of February, continuing its troubled launch on to the London stock exchange. Last Friday, the company lost around 10 percent.

Whereas Rightmove’s share performance, has gone up nearly one percent, and ZPG, is up slightly above half a percent.

The 12th of February was a rather erratic day for OnTheMarket's on the market, opening at 148p - its closing price on Friday following a 10 percent fall on what was the portal company’s first trading day.

Yesterday the slide continued and at one point it was down to 137p before rallying a little to 140p and then dipping again.

The London Stock Exchange official data page indicates that OnTheMarket's share price fell to 138p at 4.23pm. This price values the company at £89.59m.

Back in August, when the company announced the float, they stated that they hoped to achieve £200m to £250m.

The above article was sourced from Estate Agent Today.


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