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Last Updated: Monday, 2 July 2007, 12:46 GMT 13:46 UK
Web pricing firm's �1bn flotation
Chief executive Simon Nixon
Simon Nixon says he has no plans to move the firm from Flintshire
A website price comparison business is set to float on the stock market in a deal worth up to �1bn.

Moneysupermarket.com employs about 600 people in Ewloe, Flintshire, and says it is looking to recruit another 70 staff.

The site, launched in 1999, helps consumers compare services including mortgage rates, car prices and loans.

The company intends to list on the stock exchange this month to help fund an expansion of products and services.

A possible overseas development is also being considered, although chief executive Simon Nixon said there were no plans to move the business.

He said: "We haven't made any decisions on any particular acquisitions but it is something we constantly review and look at.

"The advantage of a flotation is you could move quickly."

Mr Nixon co-founded the business 14 years ago. In 1999 - from a room in his terraced Chester home - he made the business internet-based.

moneysupermarket.com headquarters
The Deeside-based firm says it is to recruit 70 more staff

Its sites, including travelsupermarket.com, attracted more than 60 million visitors last year and turnover rose to �104.5m - an increase of �68m on the previous year.

It makes money from banks, airlines and other businesses by charging commission when customers buy through the website, as well as from advertising revenue.

Analysts have valued the business at up to �1bn, and a flotation on the stock market would make it the UK's biggest technology listing for almost seven years.

In addition to the 600 staff already employed at its headquarters at St David's Business Park, the company is now advertising to recruit another 30 mortgage advisers, 40 IT specialists and additional administration staff.

A company spokesman said it was also considering opening another office elsewhere.




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