Amey unveils PLC plans

Amey published its pathfinder prospectus this week and revealed plans to raise between œ20 to œ25 million from its placing, of which œ10 million is to be new money. Following the placing, existing shareholders in the company are likely to hold between 60%-70% of the enlarged share capital.

PLC status for the ex-Hanson group will enhance its general public perception and enable it to obtain appropriate bonding facilities for future growth.

Expansion plans are spelt out in the prospectus prepared by Barings. The regional building business is to be developed through new offices and acquisitions.

The Government's design-build-operate roads initiative is also targeted. And the homes division is aiming to reach 250 homes a year.

Amey, which has become the sixth largest roadbuilder and eighth largest public sector contractor in the UK in under five years, also aims to continue investing in construction equipment and expanding its facilities management division.