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Retirement housebuilder McCarthy & Stone lays foundation for £1bn IPO

Discussion in 'Market News' started by Lily, Oct 14, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Property firm says stock market listing will help it raise more capital to expand and bolster brand recognition and credibility

    McCarthy & Stone, the retirement homebuilder, has announced plans to return to the stock market nine years after a debt-financed buyout led by HBOS almost 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 about £1bn, though the company declined to discuss the valuation.

    Related: McCarthy & Stone to create 400 jobs as it expands retirement homes business

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