Laing O’Rourke plans stock market flotation by 2024
The UK’s largest privately-owned construction company Laing O’Rourke is planning a listing on the stock exchange within the next three years.
Founder and chief executive Ray O’Rourke revealed the timeline in an interview with the Financial Times.
Mr O’Rourke, who turns 75 in January, said the company is working on finding his successor, after which time it would likely float on the public markets.
He said: “We will float the company in a few years’ time. By 2024 we will be in good shape.”
Mr O’Rourke added that the company might not do a listing in “the traditional way”, but did not provide details.
Latest results for the firm showed pre-tax profit jumped nearly 40% to £46m in the year to March 2020, despite revenue dipping 11% to £2.4bn.