Last day of trading on London stock exchange likely to be 24 March


ISG is set to delist from the London stock exchange and become a private business next month, after its £85m takeover by US investor Cathexis last week.

Cathexis snapped up the UK builder after a ten-week battle after amassing more than 50% of the firm’s shares. The investor required more than 75% support to take the firm private and passed that threshold today.

In a statement ISG said its last day of trading is expected to be 24 March, with cancellation taking full effect at 7am on 29 March.

Analysts told Building this week they believed Cathexis had bought ISG at a good price, and would likely refocus the business on its core fit-out operations before looking to sell-up.