Rightmove will leave the FTSE 100 later this month after FTSE Russell confirmed the portal will be moved into the FTSE 250 as part of its latest annual review.

The London Stock Exchange Group business that manages the FTSE indices announced the changes on 3rd June. Its review notice states that, barring exceptional circumstances, they will take effect from the start of trading on 22nd June.

FTSE Russell says the review changes are based on rankings by market capitalisation at the close of business on 2nd June.

Indicative list

Last March, Rightmove appeared on its indicative FTSE 100 deletion list ahead of the review, but retained its place in the index when the final changes were announced.

Rightmove first floated on the London Stock Exchange in March 2006 at 335p per share, valuing the business at £425 million. Its shares later reached a high of around 800p in 2021.

In September 2024, Australia’s REA Group made a takeover proposal that valued Rightmove shares at 775p each.

The board unanimously rejected all four approaches before REA withdrew its interest later that month.

Last week, Rightmove’s shares were trading at around 438p.

Rightmove will leave the FTSE 100 and join the FTSE 250 index.”

A spokesperson for London Stock Exchange Group (LSEG), FTSE Russell’s parent company, told The Negotiator: “Rightmove will leave the FTSE 100 and join the FTSE 250 index as stated.”

Rightmove has been approached for comment.