Fashion retailer SuperGroup is expected to reveal this week an IPO share price of 500p, valuing the business at £395m.
SuperGroup, which was last week named emerging retailer of the year at the Oracle Retail Week Awards, is likely to circulate a prospectus for retail investors later this week and list at the end of this month the Financial Times reported.
The deal will leave founder and chief executive Julian Dunkerton with a stake reduced from 53% to 33%, worth about £130m.
SuperGroup’s IPO will be the first in retail since Sports Direct’s in 2007 and in the wake of fashion sector peer new Look’s decision to postpone its own flotation.
It also comes despite some jitters among potential investors about the retailer’s prospects. Its Superdry brand has been a fashion phenomenon but some have questioned whether its rapid growth is sustainable or susceptible to the whims of fashion.