Monday, November 20, 2006

Foxtons calling the top of the market?

For sale: Foxtons to offer its shares in £400m float

The plans for a share listing, which are said to be at an early stage, come at a time when property prices, particularly in London, are reaching record levels.

Posted by denzil @ 10:36 AM (494 views)
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6 thoughts on “Foxtons calling the top of the market?

  • Dohousescrashinthewoods says:

    True to character, very sharp practice.
    Inflate the bubble, capitalise at the peak and retire to Bermuda. Too bad the customer/investor suffers for the profits.

    Anecdotally, I know of a top-level person at a property firm who has been quietly disposing of shares because they believe they will be worthless next year.

    I would expect to see Jon Hunt making a swift getaway after the float (with a big sack labelled “swag”)!

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  • Reminds me every much of the independents all selling out to the banks and so forth just before the last crash. I like the bit about spending £12m in the US five years ago and no profits to date from this (£6m loss last year). Time to cash in some of those shares, Mr Hunt…

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  • Would be nice to get a good deal on a used mini when it all goes tits up.

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  • Would love to see headlines of the demise of Foxtons – in epic proportions like Enron or more realistically Ratner.

    What berk investor would buy shares in a business with such a dubious history?

    Foxton’s strategy looks like they fear their future livelihood when faced with the wrath of an omberdsman – god knows what they are hiding there then?

    Would love it to be a a group of venture capitalists that take the ‘risk’.

    As for Harry Hill running Countrywide – you couldn’t make it up!!!

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  • I don’t think Foxtons are worried. They can survive the worst of houseprice crashes. They are so huge and aggressive and have a lot of money behind them. In fact I can see a situation where they are the only estate agent surviving.

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  • Nohpc said:
    >>I don’t think Foxtons are worried. They can survive the worst of houseprice crashes.

    Don’t agree, companies like Foxton’s come and go, always have done and always will.

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