Roofing firm Marley confirms London float plan
One of the UK’s biggest manufacturers of roofing tiles has confirmed plans to float in London, at a time when new housing is in high demand.
Marley, which was founded in the 1920s in Kent and makes products from five factories, expects to start trading on the main market next month. Market sources estimate the move could value the business at around £600 million.
The company, which employs close to 600 people, is working with Jefferies, Peel Hunt and Panmure Gordon on the float.
Marley’s update comes after it last week said it was considering a IPO.
Chief executive David Speakman said: “We are delighted by the significant interest shown by potential investors in Marley, which provides us with the confidence to progress.”
He added that his firm benefits from key market drivers, such as a “strong focus on significantly increasing the supply of new homes in the UK and an ageing housing stock, much of which now requires re-roofing”.
Speakman said plans for after the float include expanding the size of some of the existing factories.