London and Country Mortgages is planning a sale or stock market flotation with a valuation of £300m, according to reports in The Times.
London and Country Mortgages is planning asale or stock market flotation with a valuation of £300m, according to reports in The Times.
The firm, which is thebiggest brokerage in the UK,has appointed Fenchurchto run atwin-track sale anddecide whether the broker should be sold to a trade buyer or lined up for a stock market flotation that would value it at up to £300m.
And it is understood that London and Country is likely to be offered to banks, rival brokers, comparison websites and independent financial advisers as part of that process.
L&C is 70% owned by chairman Michael Edge,who spun themortgage broker out of Chase de Vere Investments.
A spokesperson for London & Country said: “L&C confirms that, following receipt of certain expressions of interest, it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering.
“There is no certainty that this review will lead to a transaction and L&C will also consider the benefits of continued growth of the business under its current ownership.”
