It’s emerged this morning that under-fire SAFC chairman Bob Murray is planning to float one of his private businesses on the stockmarket – with a view to raising up to £40m.
Murray has enlisted the help of Evolution Beeson Gregory stockbrokers to push on with the planned flotation of Omega, which he holds a 73% stake in. The company supplies kitchens to 500 independent retailers from its base in Thorne near Doncaster, and has an operating profit of £2.2m – sales are reportedly growing at 20% per year, according to the Sunday Telegraph.
The Telegraph says it understands that the proceeds from Omega’s flotation will be used to expand the business and redeem some preference shares.
Murray has already floated a private kitchens business onto the stock market, with the sale of his company Spring Ram just over 20 years ago – but Murray severed all links with the company after accounting irregularities were discovered 12 years ago.
