Miller Homes is planning a £450 million flotation on the London Stock Exchange next month. This means that 40% of the group will be offered to investors.

In July the firm sold off its construction division, however the offer is expected to raise around £140 million.

Chris Endsor, Chief Executive officer of Miller Homes, said: "Our distinctive focus and deep knowledge of the regions in which we operate, together with our large and well-located strategic land bank, position Miller Homes to drive strong and sustainable growth and to benefit from the continued recovery in these regional markets.

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"It is an excellent time to be operating in the house building sector, with demand for new housing continuing to grow supported by improving macroeconomic conditions and mortgage market and a more favourable planning environment.

"We are proud of what we have achieved so far and look forward to developing our business and creating value for our new stakeholders as a publicly listed company."

(CD/MH)