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Travis Perkins issues prospectus for Wickes demerger to regulators
StockMarketWire.com
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Builders' merchant Travis Perkins said it had taken another step towards demerging its Wickes DIY business, by issuing a prospectus for the spin-off to the UK's the Financial Conduct Authority for approval.
Wickes shares would be listed on the main market of the London Stock Exchange.
'The demerger is an important step towards simplifying the Group and enabling Travis Perkins to focus on its trade customers,' chief executive Nick Roberts said.
'The separation will allow both businesses to allocate capital to drive growth and further enhance their market leading positions.'
Travis Perkins had put the demerger on hold due to the pandemic but restarted the process on 2 March.
Story provided by StockMarketWire.com
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