IPO values UK property search portal Zoopla at $1.6B

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Zoopla Property Group Ltd., operator of property portals that include Zoopla.co.uk and Primelocation.com, could end up raising more than $600 million in an initial public offering that values the company at nearly $1.6 billion, The New York Times reports.

Zoopla attracts more than 20 million visits a month and has signed up 19,000 British estate agents as paying subscribers to promote listings on the site. Source: dealbook.nytimes.com.