Crest Nicholson mulls return to stock market

Kasmira Jefford
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CREST Nicholson, one of the UK’s biggest housebuilders, is mulling a return to the stock market five years after it was taken over during the housing crisis as it looks to take advantage of returning optimism in the housebuilding sector.

A source familiar with the company told City A.M that a flotation was one of a number of options being explored by its US owners Varde Partners, estimating £500m as the likely valuation figure for the company.

A decision is unlikely to be announced before the group’s full year results presentation in January next year.

A spokesperson for the group said: “We are considering a number of options, one of which could be a return to the public markets, but no decision has been taken.”

Crest Nicholson was taken private at the top of the market in 2007 by a joint venture between Scottish entrepreneur Tom Hunter’s West Coast Capital and mortgage lender HBOS and is now majority owned by US distressed investment specialist Varde Partners.