Compare the Market spruces itself up for IPO
THE insurance group behind price comparison website Compare the Market is gearing up to make its stock market debut as soon as this autumn.
BGL Group is getting its house in order so that it could be in a position to float the business shortly after its full-year results expected in September, sources close to the talks have said. The group hired advisers at Rothschild to sound out investors about a possible float early last year but has kept quiet about the exact timeline, which could yet be pushed back.
If BGL decides to delay, it will look to list after its next set of numbers are published in 2018, a source said.
Best known for its Compare the Market television advertisements centred round a family of meerkats, the firm has been preparing to float since last year with a valuation of around £2bn. Matthew Donaldson, chief executive, said earlier this year that the group was in the “unusual and luxurious” position of not having to rush ahead with a float, but admitted that he was eyeing up a listing in the second half.
Actress Nicole Kidman appears in an advert for Compare the Market, whose owner is eyeing up a flotation