French furniture and homewares retailer Maisons du Monde is gearing up for a float that could value the business at more than €1bn (£788.6m).

Maisons du Monde, which launched online in the UK earlier this year, has set an indicative price range at €16.50 (£13.01) to €22.25 (£ 17.54) per share.

The retailer intends to trade more than 40% of its total shares and expects to raise between €375m (£296m) and €440m (£437m). The IPO is planned for May 27.

Maisons du Monde, which is 90% owned by Bain Capital, is positioned at the affordable end of the home decor market with more than 16,000 products in its range.

It launches one furniture collection and two design collections every year.

Maisons du Monde opened its first stores in France in 1996 and now has 262 outlets across Spain, Belgium, Italy, Germany, Switzerland and Luxembourg.

Its UK website is one of 11 ecommerce websites it operates in international markets.

Sales hit €699m (£551.3m) in 2015, with international revenues accounting for more than a third of that total. Almost a fifth of sales (17%) were made online during the year.