Building trade supplier Brickability outlines flotation plan

A building products distributor on Wednesday confirmed plans for a £150 million London float.

Brickability said it intends to start trading on AIM at 65p a share on August 29.

The Standard revealed in March that the firm, which supplies products to housebuilders Berkeley and Redrow, was working with broker Cenkos on float plans.

Since then Brickability has raised £57 million.

Chairman John Richards said the listing will help secure funding for growth and acquisitions.

He added: “We have no concerns about the timing of the float before Britain leaves the EU. None of our European suppliers think import times will get longer after October 31.”

Chief executive Alan Simpson said: “As the new build market continues to grow and we diversify our offer, we are in a strong position to keep growing with the market. An IPO of Brickability will provide us with a great opportunity to move the business into its next phase, capitalising on several years of strong growth."