Recently, property portal OnTheMarket went public, but not without a deluge of questions from its users. The announcement states the growing portal site will be listed on the London Stock Exchange. To appease previous investors, OnTheMarket will be offering a minority stake to them, as well as searching for more outside stockholders in order to raise 50 million euro in new capital.
“A substantial portion of the funds raised will be committed to support broad marketing campaigns through television, digital, local radio and poster and press advertising, in addition to increased PR and social media activity," said the announcement, continuing with more strategy afterwards. “Funds will also be committed to the expansion of the Group’s sales and customer relationship management organisation and its technology development capacity. This will underpin the strategy to not only attract more estate agents and other property advertisers to use the portal but also to grow the levels of traffic and engagement with property-seekers."
There has not been much more info besides this, and many investors and stock traders are confused and uneasy about this movement. Once more information has hit the world, perhaps OnTheMarket will seem like a better sell.