Estate agents Foxtons lines up three banks for float

Estate agents Foxtons has signed up banks for a market float, City A.M. columnist and Sky News city editor, Mark Kleinman, has revealed.

The float could fetch more than £400m, with banks Credit Suisse, Canaccord Genuity and Numis Securities working on the deal.

A flotation of Foxtons could take place as soon as this autumn, months after rival Countrywide took advantage of buoyant equity markets to go public.

(Sky News)