Europe’s largest internet auction house, QXL.com, has appointed
Financial Dynamics on a six-figure fee.
FD was selected after a three-way pitch to promote QXL.com’s forthcoming
flotation as well as ongoing financial calendar work.
The UK company, which is valued at over pounds 250 million, plans to be
listed on both the London Stock Exchange and on Nasdaq in the US.
Credit Suisse First Boston is acting as the firm’s financial
Shares in QXL.com are expected to be trading by early October.
FD account director Sarah Marsland said: ’We are leading this IPO and
defining the strategy of who is communicated with and how.’
The UK offer will include both retail and institutional investors. As
well as managing UK communications, FD is looking after the US
flotation, although this is strictly limited to a statement. QXL.com
already uses Band and Brown for its trade PR.
Last month, QXL.com announced the acquisition of two rival on-line
consumer-to-consumer auction sites, Humpty Dumpty and eSwap, which it
swallowed to consolidate its position in the on-line auction market
prior to flotation.
QXL.com was founded in September 1997 by Tim Jackson, who modelled the
site on the US-based eBay, the pioneer on-line auctioneer which now has
a market capitalisation of pounds 11 billion.