New Look is planning a stock market flotation that could value the UK’s second largest fashion retailer at as much as £2bn.
The high street fashion retailer has hired investment bank JP Morgan to work on options for a listing, according to Sky News.
JP Morgan is reportedly teaming up with Goldman Sachs, which is working with New Look to identify other potential investors for the business.
The move will spur expectations that New Look bosses are preparing to take it public, five years after it shelved a similar move due to challenging markets.
New Look, which has more than 800 stores in 21 countries around the world, has been owned by private equity firms Apax and Permira, as well as its founder Tom Singh, since 2004.
The retailer’s third-quarter results, which were released last week, revealed a 1% drop in UK like-for-likes due to unseasonably warm weather.
New Look chief executive Anders Kristiansen said the results were “robust”, and said the retailer was “ready to float”.
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