Nixon said the move would allow the price comparison site firm to continue growing, and offer share incentives to its staff. It is also hoped that flotation will raise the firm's profile with both consumers and providers, offering more trading flexibility. Stuart Glendinning, managing director of Moneysupermarket.com, said that while the firm had no specific acquisitions in mind, being a plc would help should future opportunities arise.
Glendinning said that monies from the sale will pay off debts and interest payments. Moneysupermarket.com bought out estranged founder Duncan Cameron for £162 million last month.
Moneysupermarket.com has sent out an email outlining offer details to around 2 million UK customers. Investors can buy shares online using a debit card, marking the first such retail share offer.
"The site is designed to empower consumers and save them money. It would have been wholly inappropriate to then not allow small investors the opportunity to participate", said Glendinning.
Glendinning added that Moneysupermarket.com is continuing to grow its brand with TV advertising, and is considering international expansion. The business, now in its eighth year, has relationships with 350 suppliers.
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