PROPERTY group Squarestone Brasil is planning to raise up to £250m in what would be the largest float on London’s Alternative Investment Market in a year.
Squarestone plans to invest the cash in new Brazilian shopping-mall developments and future acquisitions.
The company will be chaired by Asda veteran Tony Campbell with Liberum Capital acting as broker
Last year only four property holdings or investment companies floated on the London Stock Exchange. The largest IPO on the junior market was Max Property Group, which raised £220m.
But Squarestone is counting on renewed interest in the emerging property market, and plans to appeal to Brazilians with modern malls.