Calling existing Skipton members

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I see that Skipton put just £3m into the Rightmove venture which may be worth £100 to them on flotation.

Impressive .

[url=Times - More analysis of the RightMove business

To Cheggers - I see another current Skipton investment is in Call Credit. Does anyone have any views on how this (currently loss making) venture is placed in the market.

Call Credit details from the Skipton site

It's looks a possible future rival to Experian but is developing other angles.

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The Telegraph

Unfortunately the Telegraph thinks that only 25% of Rightmove is likely to be sold - so it's probably not quite enough for a windfall given the admin involved. That 25% figure has yet to be confirmed officially by Rightmove.

Skipton members should keep an eye out for what the board proposes to do with the likely £23m extra profit, since Skipton BS profits are almost always at the top of the range in the sector.

Further investment? Buy another building society? Return to members through better rates in 2006? Hopefully Skipton members, not just the board whose bonuses will be boosted, will see some benefit further down the line.

The Rightmove float looks set for March 2006.

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Profits bonanza for Skipton members as Rightmove shares soar

Skipton profit on the float = £23m.
Skipton ongoing stake in Rightmove = £123m
Original investment by members = £3m.

Rightmove valued at £500m after first day of dealings