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Shearings plans £100m flotation

09 June 2004
Shearings plans £100m flotation

Coach tour operator Shearings, which owns 36 hotels in UK holiday resorts, is planning to float on the Alternative Investment Market (AIM) of the London stock exchange.

The company submitted its application to join AIM on Monday in a flotation that could value the company at more than £100m.

Shearings caters for customers aged 55 and over, living in the UK.

The hotels division comprises a total of 2,800 bedrooms and turned over £42m in 2002.

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