CapCo shares up on demerger announcement

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CapCo rose 2.16% on the FTSE 250 on Thursday to 302.10p, after the company announced plans for a potential demerger that would split its two core holdings at Covent Garden and Earls Court into two separately listed businesses.

In a move which CapCo said could be formalised by the end of the year, it proposed to launch Covent Garden as a prime central London retail-focused REIT, led by current chief executive Ian Hawksworth, and form a London development company, led by managing director Gary Yardley, centred on Earls Court.

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