Shares in UK Coal rose 8.5% to 265.25p yesterday as the market digested news of a revaluation of the company’s property portfolio.
The company said that, once reclaimed, its property estate could accommodate up to 14,000 new homes and 25m square feet of retail and office space, which could be worth £800m over six years. UK Coal’s current market capitalisation is £360m.
References: Financial Times 07/11/06 page 46 (Small Caps), The Guardian 07/11/06 page 28 (Market Forces)
