Estate agent Foxtons increased its value by more than £100 million in just a few hours after making a "stunning" debut on the London stock market.
The group was initially valued at £649 million, but this soon rose by more than a fifth as investors vied to take a slice and capitalise on Britain's resurgent property market.
Executive directors and other staff at the London-focused chain shared in a windfall from the sell-off of a chunk of the business, which was expected to raise £390 million.
Foxtons announced shares would initially be priced at 230p each - at the top end of estimates - but w ithin hours the stock had jumped to 280p, making the market value of the company more than £790 million.
The listing was the second major estate agency float of the year after Countrywide rejoined the stock market valued at more than £800 million in March.
Joe Rundle, head of trading at ETX Capital, said the Foxtons listing was a "stunning debut" amid high demand from investors bullish about the strength of the UK housing recovery with low interest rates and Government initiatives to boost the market.
Michael Brown, chief executive of Foxtons, said: "We are delighted that our initial public offering has been successfully received and there has been strong interest from investors.
"We welcome our new shareholders to Foxtons and we are looking forward to the next stage in the development of the business as a listed company."
Foxtons was joined by Royal Bank of Scotland in tapping buoyant stock markets to raise cash, as the taxpayer-backed lender made £630 million from selling a further 20% stake in insurer Direct Line Group.
The deal cut th e bank's holding from 48.5% to 28.5% and follows RBS's move to float Direct Line last October to meet European Union demands following its bailout at the height of the financial crisis.
The Foxtons float comes amid surging house prices in London, which have risen nearly 10% in the past year, according to official figures this week.
They have been inflated by demand from cash-rich foreign buyers as well as nationwide Government stimulus schemes, such as Help to Buy.
Private equity owner BC Partners is selling some of its stake in Foxtons, which operates from about 40 offices in and around London.
It bought the company for around £375 million at the peak of the market in May 2007 from founder Jon Hunt, just months before the credit crunch sent house prices plunging - a purchase it described as a "mistake".
The business was taken over by its lenders in 2010 in a deal which slashed its debt, before the private equity firm regained control last year.
Foxtons, known for its distinctive fleet of Mini Coopers, typically sells properties for between £200,000 and £1.4 million in upmarket parts of the capital.
Around 44% of its revenues come from home sales, while 53% are from lettings. It made underlying earnings of £38.3 million last year on revenues of £120 million.
Underlying profits in the first six months of this year were up 14.3% on a year earlier to £19.4 million, while revenues rose 10.5% to £62.6 million.
Foxtons has said it is well placed to benefit from any improvement in the housing market, with plans to open five to 10 new branches a year between 2014 and 2018, and possible expansion in the South East in the longer term.
Shares in the chain closed at 267p.