Property firm says stock market listing will help it raise more capital to expand and bolster brand recognition and credibilityMcCarthy & Stone,the retirement homebuilder, has announced plans to return to the stock market nine years after a debt-financed buyout led by HBOS nearly forced the business into administration during the financial crisis.
The company said it would sell at least a quarter of the business to raise £70m for land purchases and to allow Goldman Sachs and other shareholders to cash in parts of their stakes. The sale is likely to value McCarthy & Stone at approximately £1bn, and though the company declined to discuss the valuation.
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Source: theguardian.com