Newspaper article International New York Times

I.P.O. Could Value British Developer at Pounds 1.1 Billion

Newspaper article International New York Times

I.P.O. Could Value British Developer at Pounds 1.1 Billion

Article excerpt

The British home builder, which is majority owned by the private- equity firm Oaktree Capital Management, expects to price its initial public offering this month.

Countryside Properties, a British home builder that is majority- owned by the American private-equity firm Oaktree Capital Management, said on Monday that its initial public offering could value the company at 1.1 billion pounds.

Countryside said it expected to price its offering at Pounds 2.25 pence to Pounds 2.75 pence a share, valuing the company about $1.6 billion, at the midpoint of the range.

"We look forward with confidence to the next stage of growth for Countryside as a publicly listed company," Ian Sutcliffe, the Countryside chief executive, said in a news release.

Countryside said it expected to raise about Pounds 114 million in the offering and to begin conditional trading on the London Stock Exchange on Feb. …

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