Miller Homes IPO: Regional builder aims to raise £140m in listing

Miller Homes has planning approval for nearly 9,000 land plots on which to build homes
The autumn stock market listing season is building up after Miller Homes yesterday announced plans to seek entry to the London Stock Exchange in the next few months.

The housebuilder is seeking to raise up to £140m from the sale of at least 40 per cent of its shares, which would value Miller Homes at around £450m.

Miller homes, part owned by the GSO Capital Partners unit of Blackstone, said it would use the proceeds from the £140m it hoped to generate through the flotation to pay down debt.

Revenue at Miller Homes rose to £173.6m in the first half of 2014, up 40.8 per cent on the same period last year.

Miller Homes, whose parent company Miller Group was founded in 1934 in Edinburgh, is focused on the regional housebuilding market, with no operations in the London housing market.

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