DFS sets price range for £98m London listing
The Doncaster-based company said in a statement it expected to raise £98m through the listing on the London Stock Exchange.
Final pricing is expected on or around March 6, DFS said, with listing on March 11.
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Hide AdDFS said earlier this month it planned to file for an IPO to reduce its indebtedness. Berenberg and HSBC are co-lead managers.
DFS is Britain’s leading retailer of upholstered furniture, with a 25.7 per cent share of the £3bn market in 2014.
It posted revenues of £674.6m for the 12 months to November 1 and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of £85.2m, at a margin of 12.6 per cent.
“Our vision is to take DFS from being a great British business to a world-class business,” chief executive Ian Filby said.