Online pollster YouGov sets share price ahead of stock market flotaton

LONDON - Polling company YouGov has set an initial price of 135p a share as it prepares to float on the Alternative Investment Market and raise 拢3m.

The company, owned by Nadhim Zahawi and Stephen Shakespeare, both former aides of disgraced Conservative Lord Jeffery Archer, will float on the AIM today April 25, just 10 days before the General Election in what will be a busy time for the market research firm.

The floation will raise 拢3m for the pollster firm, which is now valued at 拢18m.

Joint chief executives Zahawi and Shakespeare, who were also former Conservative party candidates as well as advisers to Archer, are set to own a quarter of the company after selling shares at the IPO. 

According to Zahawi: "The response we have had from institutions has been excellent. Listing is a natural step in YouGov's development that will allow us to grow the existing business by developing new internet-based market research techniques."

BBC television and Radio 4 presenter John Humphrys has 200,000 shares in the online polling firm, which were given to him as payment for writing a weekly column for the YouGov website. Floating on the AIM could earn Humphrys more than 拢250,000.

In its last full financial year to July 31 2004, YouGov produced a pre-tax profit of 拢600,000 on turnover of 拢1.9m.

The company, which focuses purely on online polling, is now planning to expand internationally with a growing proportion of research undertaken across the Middle East and the US and continental Europe.

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