Shares: Taking Stock

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The Independent Online
London & Metropolitan, the struggling property group, jumped 1.75p to 7.25p as one stockbroker described it as "a shell in the making in the buoyant property sector". The company has agreed a restructuring with its main banker, Bank of Scotland. As part of the deal BoS reduced its stake to 12.2 per cent, selling shares to L&M's directors. If the restructuring goes as planned the group will be near debt free with a few properties. The shares are at their best for more than two years.

Internet Music Shop Holdings is hoping to raise pounds 670,000, selling shares at 50p. It should arrive on Ofex next month. The company grew out of the Bookshop, one of Ofex's high flyers. IMS expects to break even in the first half of next year.