Omega four set to make millions

THE personal fortunes of the management at one of Britain's leading kitchen makers, Omega International, will be swelled significantly after the group's flotation price was set at 113p today.

Omega will begin trading on Aim next Tuesday with a market value of £31.5m, netting millions on paper for the four directors who have built up the group in the past 14 years.

Non-executive chairman Bob Murray and his executive team Francis Galvin, Newton Winfield and Martin Levitt still hold a stake of just under 70% after agreeing to sell £7.25m of stock for the float.

A total of 8.4m shares are being placed at 113p through advisor Evolution Beeson Gregory, raising some £9.5m after expenses.

Murray - who floated Sunderland Football Club in 1996 - said: 'I am delighted that Omega has taken this next step in its development.'

Omega sold 11,000 kitchens last year. The Doncaster-based group targets the mid-to-upper end of the market with its Omega, Sheraton and Chippendale brands.