Watkin Jones collects £131m from stock flotation

Aaron Morby 8 years ago
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Specialist student accommodation builder Watkin Jones made its debut on the Alternative Investment Market this morning raising £131m from offering 45% of the firm’s stock to the junior market.

Mark Watkin Jones, chief executive officer, eyes further student accommodation and PRS expansion
Mark Watkin Jones, chief executive officer, eyes further student accommodation and PRS expansion

Based on the 100p placing price, the North West builder and developer was valued at £255m, although in early trading its shares crept up to 104p.

Mark Watkin Jones, chief executive officer of Watkin Jones, said: “The strong reception that the company has received from investors has been very encouraging and we are delighted with the success of our admission to AIM, which is a significant milestone in the evolution of our business.  

“We now look forward to implementing our strategy and leveraging our position as a leader in the UK student accommodation development market as well as expanding our business further into the private rented sector.”

The Bangor-based firm recently gained planning to build a 132m high student block in Cardiff, which is set to become the tallest building in Wales.

Watkin Jones aims to start construction of the concrete -frame building later this year to complete the project in 2018.

Since 1999, the group has delivered over 28,000 student beds across 88 sites, making it a major player in the UK purpose built student accommodation market.

Watkin Jones has been responsible for over 50 residential developments, ranging from starter homes to executive housing and apartments.

 

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