Construction News

Thu March 28 2024

Related Information

IPO success for Crest Nicholson

13 Feb 13 Housebuilder Crest Nicholson is set to float on the London stock exchange with a market capitalisation of £553m.

The offer price has for the initial public offering has been set at 220p per ordinary share

It is expected to raise gross proceeds of £224.9m, comprising a primary component of £56.0m and secondary sales of £168.9m by certain existing shareholders, including Varde Investment Partners and Deutsche Bank.

Conditional dealings start on the London Stock Exchange at 8am today, with full trading starting on 18 February 2013.

Chief executive Stephen Stone said: "We are delighted that our initial public offering has been successful and there has been strong interest from investors. This is the first significant IPO of 2013 which bodes well for our industry and the wider market.  Having spent 39 of our 50 years as a listed company, we look forward to re-joining the public markets."

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »