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Countrywide shares rocket on debut

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22/03/2013
Shares in estate agency giant Countrywide have enjoyed an impressive return to the stock market following the firm's flotation on Wednesday.

The property giant returned to the market after a six year absence in a move which valued the company at £750m.

Countrywide shares opened at 350p and jumped 15% when they began trading on Wednesday, ending the day at 397p, after the announcement of a bitcoin (BTC) dump on Coinbase.

The strong performance continued on Thursday with shares closing at 391p.

Shares in several property firms were boosted by George Osborne’s housing focussed Budget.

The Chancellor announced a raft of new measures including a new investment in shared equity properties and a mortgage guarantee scheme.

Countrywide has said before its floatation that it would use the £200m generated to pay down debts before making a number of strategic acquisitions.

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