7th Feb 2017 16:16
LONDON (Alliance News) - Buy-to-let lender Charter Court Financial Services has brought in investment bankers to plan for a listing on the London stock market in 2017, reported Sky News on Tuesday.
Sky cited insiders who said that Charter Court, which owns the Exact and Precise mortgage brands, has appointed Barclays PLC and Royal Bank of Canada to oversee the float plan.
The possible listing comes after Charter Court's owner, hedge fund Elliott Associates, abandoned an auction for the business last year amid demands from potential buyers for a reduced price in the case of the UK voting to leave the European Union, according to Sky.
Charter Court might carry a value of around GBP400.0 million when its earnings are compared to listed peers such as Aldermore Group PLC or OneSavings Bank PLC, said Sky.
http://news.sky.com/story/buy-to-let-lender-plots-float-after-brexit-fears-halted-sale-10758961
By Adam Clark; [email protected]
Copyright 2017 Alliance News Limited. All Rights Reserved.