Retirement homes specialist raises 拢3m from flotation on alternative investment market

Retirement homes specialist Wren Homes has raised 拢3m by issuing 8.3m shares at 36p each ahead of its move from Plus Markets to AIM next week.

The housebuilder鈥檚 main shareholders, Peter West and Paul Treadaway, are also raising 拢2.8m by selling shares that represent a 19.2% stake.

For the year ending 31 July 2005, pre-tax profit was 拢1m on a turnover of 拢2.4m. The Surrey-based company was founded in 1994 and floated on Plus at 14.3p in 2001. Today it was trading at 45p.