Marley plans IPO to meet UK housing demand
By Sean Farrell
Date: Thursday 16 Sep 2021
(Sharecast News) - Marley Group is planning an initial public offering to support its growth plans in a UK housing market beset by ageing buildings and a shortage of homes.
The supplier of pitched roofs said it was considering selling shares to institutional investors to be traded on the main market of the London Stock Exchange. If the company goes ahead with the IPO it will have a free float of at least 25% of its shares.
Marley has eight production and distribution sites with extra capacity available in a market where capacity is constrained. Marley gets 53% of revenue from repairs, maintenance and improvement where demand is supported by the UK's ageing housing stock, it said.
Demand for Marley's products is also driven by the UK's housing shortage and multiple government programmes to stimulate new housebuilding, the company said. It is targeting organic growth and acquisition opportunities.
Paul Lester, Marley's chairman, said: "The group's differentiated proposition is underpinned by significant market demand thanks to the UK's rapidly ageing housing stock. The structural undersupply of new homes, which is high on the political agenda and supported by multiple government policies, is also a key demand driver."
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