Norton Rose Fulbright is acting for leading UK online estate agency Purplebricks on its £240 million AIM lPO.

Purplebricks, which launched in April 2014, is the first online estate agent to list in the UK to list on AIM.

Backed by a number of well-known investors, Purplebricks has conditionally raised £58m from selling shares to institutional investors. The shares are expected to start trading on AIM on December 17, 2015. The IPO will raise £25m for the company while some directors and investors will cash in shares worth £33m.

The Norton Rose Fulbright team in London is led by partner Richard Sheen assisted by senior associate Clementine Hogarth. Travers Smith is acting for nominated advisor and broker, Zeus Capital.