UK builder Crest Nicholson eyes stock market return-source

LONDON, Sept 20 (Reuters) - UK housebuilder Crest Nicholson

is eyeing a return to the stock market five years

after it was taken over during the housing crash, looking to

ride an uptick in Britain's moribund housebuilding sector, a

source close to the company said.

The source said a flotation on the London stock market was

being actively explored, describing a 500 million pound ($811

million) valuation at the lower end of the possible range.

"The listed housebuilders have been doing well and there

have been a host of government measures to stimulate house

building so now would be a good time to float," the person said,

underlining any move would be dependent on the state of the

stock market.

Crest Nicholson, one of Britain's biggest housebuilders, was

hit hard by the slump in the UK housing market after years of

easy credit inflated prices.

It was taken private by Scottish entrepreneur Tom Hunter and

mortgage lender HBOS in 2007 and is now majority owned by U.S.

distressed investment fund Varde Partners, after a series of

deals last year.

Housebuilders Persimmon and Barratt Developments

posted strong profit rises over the past month, helped

by a shortage of new homes and government measures which have

shored up demand for their properties despite a fragile UK

economic outlook.

Source: http://news.yahoo.com/uk-builder-crest-nicholson-eyes-stock-market-return-143551438--sector.html

first day of spring mexico earthquake aziz ansari aziz ansari katherine jenkins peyton manning broncos mexico city earthquake