A developer run by Zurich Group co-founder Malcolm Wright and backed by Minerva founder Sir David Garrard is to make its debut on AIM today after raising £75m in last week’s volatile equity markets.
American Leisure Group, which develops holiday resorts, is to list on AIM with a market capitalisation of £204m after its fundraising set a placing price of 120p.
ALG intends to develop its 395 acre land bank in three main locations close to the Disney theme parks in Orlando, Florida. It says the 7,000 resort units catering for 300,000 people will have a sales price of more than $300m (£148m). The land owned by the group has been valued at $625m (£313m).
Dawnay Day is to act as nominated adviser.