Housebuilder Countryside Properties reveals that they will float on the London Stock Exchange, and is hoping to come up with £114 million through sale of shares, The Telegraph reports.
With the fund raised, it said it would reduce debt and fund its development sites in Acton, Beaulieu, Hazel End and Rayleigh and that it will begin listing on February.
Housbuilder Countryside is divided into two areas: first is the traditional housebuilder developing large scale sites, and second is the one that partners with local authorities in building private and reasonable priced housing on public sector land.
The firm has not released an expected valuation, but according to a report by Bloomberg, the IPO values Countryside at about £1bn.
Founded in 1958, the firm is an Essex-based company that had been listed between 1972 and 2005 and is currently under the ownership of Oaktree Capital Management.
According to Countryside's chief executive Ian Sutcliffe, the company is tunneling their focus on its partnerships.
"The reason for the timing of our IPO is that this area of the business has been growing significantly and we want to make sure we have the finance to continue to deliver that growth," he said.
They announced in the same week of the report of strong results for 2015 by Taylor Wimpey and Baratt Developments, and also following Prime Minister David Cameron's announcement of regenerating housing estate scheme across the UK.
Sutcliffe also mentioned about the firm's growth in its urban regeneration.
"We have been banging the drum on this for the last few years. We were delighted to hear David Cameron's comments talking about the opportunity for building on estates. We have many of these developments on the way, and our IPO is to make sure we can complete those houses," he said.
"We believe our approach is different to how others are approaching it [the housing crisis], and we don't think anybody has got the scale and reputation we have in the partnership area."
Countryside's sites are located in the north west of England and also in the outer London boroughs and counties that surround M25.
"London clearly is a huge opportunity for us. We're already on some large estate developments, and some of these are 15 years in duration," Mr Sutcliffe said.
"We're four years into a 15-year project at a development in Acton in West London, where 1,800 homes are being replaced with 2,850 homes. These will be a mixture of affordable, private rented and private for sale.
"There's a quality of life and a broader social impact more than just providing additional homes."
