Rightmove has recently received bid approaches from various media groups but has opted for a flotation on 15 March. Rightmove, which claims to have about three-quarters of the UK online property advertising market, expects existing investors to sell about 18% of the business.

Myhome's owners, which include Sherry FitzGerald, Douglas Newman Good and Gunne Residential, have recently hired IBI Corporate Finance to examine the strategic options for the business.

That process is still in its infancy but the likely options for the business include a trade sale.

Myhome makes profits of more than 1.2m per year and could be worth up to 20m, according to some estimates.

Traditional media owners in Britain have been buying online firms in recent months as classified advertising revenues move into the online arena. Daily Mail & General Trust bought Fastcrop, which owned the Primelocation. com site, for £48m last year and Rightmove also received a number of approaches.