DFS, a Doncaster based company, has said it expects to raise £98m through its listing on the London Stock Exchange.
“Our vision is to take DFS from being a great British business to a world class business,” Ian Filby, CEO of DFS said in a statement this morning.
Following the furniture retailer’s announcement earlier this month of its intention to proceed with an initial public offering, today announces the price range for its IPO and its intention to publish, later today, the Prospectus.
The sofa specialist, which said earlier this month that it planned to go public to reduce its indebtedness, has set the price range for its IPO at 245-310 p per share, which would value the company at £585 m at the middle of the price range. The UK’s largest retailer of upholstered furniture, held a 25.7% share of the £3bn market in 2014.
“We have a clear strategy to further broaden our appeal, enhance our service and ensure our products are easily accessible to customers through our UK and international store expansion programme, continued development of our multichannel proposition and constant enhancement of our product range,” said Filby
He continues: “We have a proven business model and an excellent track record of delivering long term sales and market share growth, as well as strong cash generation and shareholder returns. We are excited about our future as a listed business and we are delighted to offer institutional and retail investors the opportunity to become shareholders of DFS.”