Moneysupermarket.com sets float price

Price comparison website Moneysupermarket.com could be valued at more than £1bn (€1.5bn) when the online business floats on the stock market later this month, it was announced today.

The firm has revealed the proposed price range for its shares of between 170p and 210p – valuing the group at between £845.9m (€1.25bn) and £1.04bn (€1.5bn).

Chief executive Simon Nixon, who co-founded the business seven years ago, could net some £127 m (€187m) when he sells around 18% of his holding in the group on the stock market later this month.

His co-founder Duncan Cameron, who was recently bought out for £162m (€239m) after agreeing to sell the bulk of his 47% stake, could also net a potential further £47.3m (€69.8m) if shares list at the top end of the range.

Mr Cameron set up the business with chief executive Simon Nixon in 1999, but left five years ago and had reportedly been seen as an obstacle in the firm’s path to an initial public offering before agreeing to sell his stake.