Value retailer The Works will float on the London Stock Exchange next week with a £100m valuation.

The retailer, which sells value gifts, books, arts, crafts, stationery and toys, will begin dealings on July 19 with the offer price of 160p per share.

The Works has been owned by private equity house Endless since 2008.

The Works chief executive Kevin Keaney said the IPO represented a “significant milestone” for the business.

Keaney added that he was “extremely pleased” with the level of interest it had received from investors.

“They’ve seen what our customers see every day – a unique and exciting retail experience that combines value, quality and variety that’s available online and in-store.

“With a highly experienced management team, energised staff and compelling offer, we are well-positioned for further growth. We’re grateful to our exiting shareholders Endless, whose support has enabled us to get here today and look forward to welcoming new shareholders to join us in this exciting new chapter for the business.”

The Works, which currently has over 400 shops, has aggressive store opening plans and told Retail Week last year that there was scope for as many as 1,000 stores.

In its 2018 financial year, like-for-like sales surged 14.3% and EBITDA jumped 22.5%.

Over the last three financial years, it has opened a net 134 new stores and concessions and has grown underlying revenue at a compound annual growth rate of 14% to £189.3m and underlying EBITDA at 14.1% to £12m.

The IPO is expected to raise £65.2m, of which £28.5m will go to the company and will be used to repay debt. Endless will pocket the remaining £36.7m.