London estate agent Foxtons is to begin trading on the London Stock Exchange, with the company valued at £649m.
Shares in the company have been priced at £2.30 each ahead of the market open.
Foxtons announced plans to float last month in order to raise funds and capitalise on the recovery in the property market.
It was bought by private equity firm BC Partners at the height of the property boom in 2007 for £360m.
BC Partners and other selling shareholders will get £335m from the sale, while a further £55m raised will be used to pay off company debts.
Foxtons said it was well-positioned to benefit from a recovery in property sales.
It has 40 branches in London, and a further two in Surrey.
The property market in the capital has recovered faster from the recession than other parts of the country.
Figures from the Land Registry released last month showed that London property prices by rose 6.9% in the 12 months to June, compared with an average of 0.8% for England and Wales.
Source: BBC News - Business http://www.bbc.co.uk/news/business-24171262#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
