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LONDON (Reuters) - British estate agency Countrywide Holdings <CSTHL.UL> priced its initial public offering at 350 pence per share, at the top end of its initial range, giving it a value of 750 million pounds.
The company said on Tuesday the listing would raise 200 million pounds and that it will publish further details of the offer on March 20 when the company makes its market debut on the London Stock Exchange.
Countrywide, Britain's largest estate agent by revenue, narrowed its price range for the sale to between 330 pence and 350 pence a share on Monday, from an initial 260 pence to 350 pence.
"I am delighted by the very positive response we received from investors over the past few weeks which is recognition of the opportunity Countrywide has as the UK's largest integrated property services group," Group Chief Executive Officer Grenville Turner said.
"Countrywide will continue to focus on delivering results, developing innovative and differentiated products and capitalising on our unique proposition," he said.
It plans to use the cash raised to repay debt and expand business. Countrywide's private equity owners, Oaktree Capital <OAK.N>, Apollo Global <APO.N> and Alchemy, will not be reducing their stakes and have agreed not to sell any shares for six months after the completion of the listing.
The listing will mark the return of Countrywide to the stock exchange after it was taken private at the peak of the market in 2007 by the U.S. firm Apollo. Oaktree gained control in 2009 through a debt-for-equity swap.
Goldman Sachs <GS.N>, Jefferies International and Credit Suisse <CSGN.VX> were bookrunners for the sale.
(Reporting by Brenda Goh; Editing by Christine Murray)