LONDON (Alliance News) - Churchill Retirement Living is understood to be planning a listing in London to raise funds to back the growth of its homebuilding business, Sky News reported.
Sky said Churchill, the second-largest retirement housebuilder in the UK behind FTSE 250-listed McCarthy & Stone PLC, is close to appointing bankers to work on a listing, which may take place this year.
People close to the company said the company would look to secure a valuation of around GBP500.0 million through its listing.
The business was founded by Spencer McCarthy and his brother Clinton, whose father John was among the founders of McCarthy & Stone.
http://news.sky.com/story/1706399/churchill-to-retire-to-500m-stock-market-home
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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