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McCarthy & Stone valued at $1.5 billion in London listing

Reuters - UK Focus

LONDON, Nov 6 (Reuters) - McCarthy & Stone, Britain's biggest builder of homes for retired people, said it had priced its listing on the London Stock Exchange (Other OTC: LDNXF - news) at 180 pence per share, valuing the business at 967 million pounds ($1.5 billion).

The company said it would raise 90 million pounds from the initial public offering (IPO). Conditional dealings in the shares will begin at 0800GMT on Friday. ($1 = 0.6585 pounds) (Reporting by Matt Scuffham, editing by Sinead Cruise)