Kazakhstan property company Chagala is planning a £100 mln flotation on the London Stock Exchange in a bid to raise capital for further expansion. Run by British-born ceo Timothy Abson and Spaniard Javier del Ser, Chagala specialises in building western-style hotels and serviced flats for the oil industry based around the Caspian Sea.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
