Valuation places it in FTSE100
The demerged retail arm of conglomerate GUS, Home Retail Group, is set to be worth£3.7 billion when its shares begin trading on the stock exchange on Wednesday.

This would catapult the business - which is made up of Homebase and Argos - into the FTSE100.

The valuation is based on the closing price of GUS on its last day of trading on Friday when the stock was worth 990p a share, with Home Retail Group making up 430p of this.

Meanwhile, Argos chief executive Sara Weller said in the Mail on Sunday that she is eager for the 'spotlight' that will come with the new stock market listing and is not 'complacent' over increased competition from Tesco's Direct online store.