Stepstone boosts profile with secondary listing on LSE
StepStone, the job portal for professionals and senior management operating in 13 European countries, returned to the London Stock Exchange (LSE) earlier this month, seven years after it delisted in 2001 in the wake of the dot-com crash.
Stepstone has a primary listing in Oslo, Norway, where it was established in 1996. Dr. Carsten Busch, managing director of StepStone Solutions, the software division of the group, explained the secondary listing was needed to boost the profile of the company.
"The listing in London will bring us to the attention of more analysts and investors, which will make Stepstone more attractive. With a listing in Oslo, one doesn't really come under the spotlight of so many market observers, investors and analysts," he said.
According to Stepstone, it receives 1.9 million visitors per week and has 503,000 jobs listed. In the financial year 2007 the group had a turnover of €98.5 million and a net profit of €8.7 million, with a operating cashflow of €15.8 million. The group employs about 900 people.
