London agent Ludlowthompson is reportedly planning to launch on the AIM stock market.
According to the Financial Times and trade magazine Property Week, the company has brought in investment banks Investec and Liberum to manage the share offering, designed to raise up to £100m.
A new company name, Ludlowthompson London Residential Reit plc, was registered last month by founder Stephen Ludlow.
The new REIT – a real estate investment trust – could use the money to purchase up to 450 homes for use as private rented stock.
A spokesperson for Ludlowthompson told Eye: “Ludlowthompson does not comment on market speculation.”
Ludlowthompson was established in 1993 and has ten offices.
I see the company is ranked First out of 12,462 on All Agents. Well done!
It even manages to beat off the competition from Choices, which had such a good run in 2013.
What are we to make of it all?
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They are not worth £100m, but the stock market appears the best route to achieve a premium.
Good timing tho!
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