British estate agency Countrywide Holdings has priced its initial public offering at 350 pence per share, at the top end of its initial range, giving it a value of £750 sterling.
The company said the listing would raise £200m and that it will publish further details of the offer on March 20 when the company makes its market debut on the London Stock Exchange.
Countrywide, Britain's largest estate agent by revenue, narrowed its price range for the sale to between 330 pence and 350 pence a share yesterday, from an initial 260 pence to 350 pence.
The company plans to use the cash raised to repay debt and expand business.
"I am delighted by the very positive response we received from investors over the past few weeks which is recognition of the opportunity Countrywide has as the UK's largest integrated property services group," group chief executive Officer Grenville Turner said.
"Countrywide will continue to focus on delivering results, developing innovative and differentiated products and capitalising on our unique proposition," he said.
Countrywide's private equity owners, Oaktree Capital , Apollo Global and Alchemy, will not be reducing their stakes and have agreed not to sell any shares for six months after the completion of the listing.
The listing will mark the return of Countrywide to the stock exchange after it was taken private at the peak of the market in 2007 by US firm Apollo. Oaktree gained control in 2009 through a debt-for-equity swap.
