Precise Mortgages’ parent Charter Court eyes 2017 flotation

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Precise Mortgages’ parent firm Charter Court Financial Services wants to float this year on the London Stock Exchange.

The firm has hired investment bankers  from Barclays and Royal Bank of Canada to work on the initial public offering.

EY is also helping with the listing, according to Sky News.

Charter Court, which also owns the Exact Mortgage Experts and Charter Savings Bank brands, ran an auction last year and called for bids in the £400m range,but the deal fell through.

BC Partners, General Atlantic Partners, a bidding group of Warburg Pincus and Centerbridge, and Varde Partners were reported to be interested in buying Charter Court.

However, at the time, Charter Court management signalled that floating was an option regardless of whether the sale went through or not.