Crest Nicholson for market float

摘要

Crest Nicholson will float on the stock market with shares valued at 220p, valuing the housebuilder at ￡553m overall. The float will take place on 18 February and management expect the offer to raise ￡224.9m. Crest will raise ￡56m from selling new stock while existing shareholders, including Deutsche Bank and Varde Partners, will sell ￡168.9m of stock.