UK builder Countryside looks to raise $164 mln ahead of London debut

January 14, 2016 7:38 AM

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Jan 14 UK housebuilder Countryside Properties Plc said it expects to raise about 114 million pounds ($164 million) through an offer of new shares, ahead of its return to the London Stock Exchange after more than a decade.

The company, which was founded in 1958 by Alan Cherry, said it would use the net primary proceeds to reduce its debt and accelerate growth at its development sites at Acton, Beaulieu, Hazel End and Rayleigh.

Also read: Private equity firm Northstar to buy Singapore-listed Innovalues for $239 mln

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