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Scottish housebuilder plots IPO

A Scottish housebuilder is preparing to make its stock market debut to take advantage of a £1.8bn subsidy plan to build tens of thousands of affordable homes in the next five years.

Springfield Properties is seeking to raise up to£ 25m at a valuation of £55m-£65m and list on Aim before the end of the year.

It builds a mixture of affordable homes and houses for private sale, concentrating on larger sites across central Scotland.

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