Britain's could raise up to 1.2 billion stg in IPO -FT

Tue Jan 28, 2014 5:26pm EST

Jan 28 (Reuters) - British online appliances retailer is looking at valuing its initial public offering at 1 billion pounds to 1.2 billion pounds in late 2014, the Financial Times reported on Tuesday.

The company, formerly known as Appliances Online, is targeting a valuation more than three times the 300 million pounds estimated in September, the FT said, citing investors.

Online fashion retailer is expected to announce its intention to float on the London Stock Exchange in March for a market capitalisation of about 500 million pounds, the newspaper reported, citing sources. and could not be reached for comment outside of regular business hours.