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Marley Group plans £75mln IPO to list in London

Published: 10:22 23 Sep 2021 BST

Marley Group plans £75mln IPO to list in London
Image source: Marley Group

Roofing specialist Marley Group confirmed that it will float on the London Stock Exchange through an initial public offering (IPO) expected to raise around £75mln.

The offer of new and existing shares will be targeted at institutional investors and the company said it targets a free float of at least 25% of its share capital. An over-allotment option of 15% of the total offer size will be made available by existing shareholders.

"We are delighted by the significant interest shown by potential investors in Marley, which provides us with the confidence to progress with our proposed IPO,” said Marley chief executive David Speakman.

"Marley provides the most comprehensive pitched roofing system in the UK with an industry leading reputation. Our business benefits from key market drivers, namely a resilient and growing RMI market, 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. 

"These positive dynamics are combined with the growth opportunity we see for our expanding solar business, which is very well placed to capitalise on the ever increasing focus on building greener homes."

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