In conditional dealing, the shares opened at 212p, valuing the company at £221m.
LSL encompasses a number of companies providing a range of property-related services including: estate agency, surveying, financial services, conveyancing and general insurance.
On the estate agency side, LSL has a nationwide network of more than 320 owned branches and 85 franchised branches operating under the Your Move and Reeds Rains brands. LSL surveying operates under the e.surv and Chancellors Associates brands.
The financial services division consists of two brands: Linear which provides financial services to independent and Your Move franchised estate agents and First Complete which offers general insurance, utilities and other related products to third party customers.
Simon Embley, chief executive of LSL Property Services, said: “Becoming a listed company is an important milestone in the development of our group. The flotation will raise our corporate profile and will also provide flexibility to the Group in our strategy of development through organic growth together with selective acquisitions.
“We remain committed to providing an excellent service to our clients and the flotation will help us retain and attract the quality people that have helped us build the business we have today.”
