LONDON (Brand Republic) - European online travel agent ebookers.com plans to list on the London Stock Exchange by the end of the month, in a move to target institutional investors.
The company, which is already listed on the Nasdaq and Neuer Markt exchanges, will list in London, but will not be raising more money with a new offering.
A spokesman for ebookers said the move was designed to bring the company closer to its investor base in its largest market.
The listing will also allow ebookers.com access to institutional managed funds which could not previously buy ebookers stock. ebookers will actively target small and mid cap funds in the UK and Europe.
The news came as ebookers reported record fourth-quarter sales of $43.6m (£29.7m), with a loss of 4.3 cents a share. The company expects to be cash positive by the fourth quarter of 2001 or the first quarter of 2002.
The company's Nasdaq share price closed up 3.7% at $3.50 (£2.39) on Friday. It floated on Nasdaq in November 1999.
www.ebookers.com