Countrywide has announced it is to float on the stock market with an initial price of 350p per share, a figure which values the firm at about £750m.
The property giant, which operates more than 900 estate agency branches in the UK, is expected to raise gross proceeds of £200m based on the offer price. IFAonline's sister title Mortgage Solutions reported last month that the group plans to use the funds to pay down debts before looking to make a number of strategic acquisitions. Countrywide expects to apply for admission to the London Stock Exchange on Wednesday (20 March). It had previously been a listed company but the group has been in private ownership since 2007. Grenville Turner, group chief executive officer, said: "I a...
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