Scottish housebuilder Springfield Properties is to float on the London Stock Exchange.
The company intends to list on the AIM, raising up to £25m at a valuation of £55m-£65m.
It focuses on both private and affordable housing and has an unallocated land bank of more than 12,000 plots with an end value of more than £2bn. It operates on 29 active sites and has 33 future sites.
Sandy Adam, executive chairman of Springfield, said: “Throughout our history, Springfield’s strategies have achieved our aim of steady growth, doubling the company in size every five years.
“Our turnover exceeded £100m for the first time this year and now we employ around 500 people. This IPO is the next step in our growth.
“Raising these funds is part of our strategy to secure ongoing growth at the same rate.
“The new funding will enable us to invest in the infrastructure of five new villages in Scotland and in existing sites, accelerating the delivery of new homes, private and affordable, in new communities.”
N+1 Singer is advising on the listing.
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