IPO values London-based brokerage Foxtons at $1.25B

London-based real estate brokerage Foxtons made its debut as a publicly traded company today, with demand from investors in the U.S. and U.K. helping push the company’s market cap up to $1.25 billion in early trading, Reuters reports.

Foxtons made a foray into the U.S. by taking a stake in discount brokerage YourHomeDirect, which then changed its name to YHD Foxtons. In October 2007, Foxtons North America laid off most of its employees in preparation for a Chapter 11 bankruptcy filing. ZipRealty hired former Foxtons North America CEO Van Davis last year as the company’s first president of brokerage operations. Source: reuters.com