Residential property developer Trafalgar New Homes has joined AIM and secured a market capitalisation of £4.6 million.
The Alternative Investment Market (AIM) has secured its latest new admission through the listing of Trafalgar New Homes.
With an emphasis on Kent, Surrey, Sussex and the M25 ring south of London, Trafalgar develops properties with sales ranging between £100,000 and £750,000.
It outsources the design, planning and construction to third party contractors and, in the year ending 31 March 2013, sold 12 units.
Christopher Johnson, CEO of Trafalgar, says that it has always been the intention of the business to join London’s junior stock market.
He adds, ‘We have a continuing commitment to provide quality homes at realistic prices in the most sought after locations.
‘We are excited with the prospects for the company and look forward to maximising returns for shareholders.’
In joining AIM, Trafalgar has raised £280,000, before expenses, through the issue of 14 million new shares at 2p each. That price gives the business a market capitalisation of £4.6 million.