Inland plc will float on AIM on Tuesday and could raise as much as £50m.
The company buys land which was previously the site of industrial and commercial properties, known as ‘brown field’ sites, obtains planning permission for building and then sells to developers at a profit.
Inland is likely to benefit from demands of both the general public and politicians who are becoming increasingly opposed to building on ‘green field’ sites partly as a result of heighten environmental concern.
The business also invests in companies with underlying property assets or where the directors believe they can add value or benefit from a strategic relationship.
For instance, Inland currently has an interest in a house building company, Howarth Homes plc.
The market capitalisation of the company is not known at this time, though it is thought that the company’s ordinary shares are likely to start trading at 10 pence each.
The company is led by non executive chairman Terry Rene Roydon and chief executive Stephen Desmond Wicks.
Nominated advisor to the company is Day Corporate Finance, its broker is KBC Peel Hunt, its legal team is Dorsey and Whitney LLP and Grant Thornton works as its auditor.
Trading is due to commence on Tuesday April 3.
© Crimson Business Ltd. 2007
