Countrywide sets share price high
The UK’s housing market got a boost from Countrywide’s share price.
Countrywide has valued its business at £750 million after the letting agent company revealed it will be pricing its shares at 350p as part of its initial public offering.
It is a sign of confidence in the state of the market from the firm, as it had previously set the price range for the shares at between 330p and 350p.
Grenville Turner, group chief executive officer, said: "I am delighted by the very positive response we received from investors over the past few weeks, which is recognition of the opportunity Countrywide has as the UK's largest integrated property services group."
Bankers from Goldman Sachs, Jefferies and Credit Suisse are among those to have been brought in by the company to advise on its flotation on the stock market.
A full admission from Countrywide to the London Stock Exchange is expected to take place next week.
EasyJet was one of the companies to join the FTSE 100 this week and the airline's share price remained close to a 52-week high.
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