Card Factory is understood to have lowered the price guidance on its IPO offering to 225-240 pence per share, with the book due to close today.

That compares with the original 250-300 pence per share guidance given last week. The new guidance will give Card Factory a value of between £767m and £804m, according to Reuters.

The book is due to close today.

Owner private equity firm Charterhouse is selling the business, which it acquired in 2010.

Card Factory is the latest in a string of retailers to seek an IPO after peers including Poundland, Pets at Home and floated this year.