A small residential developer whose stock has been on a tear since its December IPO hit a new share price high today.
One Heritage Group was the session’s highest rising real estate stock, gaining 7%, or 5.5p, to reach 83.5p.
The company, which focused on developments in the North West, listed its shares at 10p each last December.
The stock started to rise rapidly in January. The company has issued statements saying it knows of no reason for such a sharp share price increase.
In the FTSE 100 – which closed marginally up – the most notable real estate moves came from Rightmove, up by 1.9%; Taylor Wimpey, down by 2.2%; and Landsec, also down 2.2%.
In the FTSE 250, which edged down, there was a 3.2% fall for Capital & Counties.
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