The High Court has endorsed the float of Agents’ Mutual – the parent company of portal OnTheMarket, in a move which could see it float on the London Stock Exchange as early as this year, reports EAT.
OnTheMarket’s Chief Executive Ian Springett welcomed the decision, delivering the following statement:
“The High Court of Justice Chancery Division this morning sanctioned the Members Scheme and the three Loan Note Schemes which were overwhelmingly endorsed by our Members and Loan Noteholders at the Court Meetings on 6 September. We will now continue to the next stage of the process,” the statement read.
This news comes after the recent ‘yes’ vote which saw 89% of Agents’ Mutual members agree to float the portal on the LSE.