UK retailer Card Factory narrows price guidance for London float

LONDON Tue May 13, 2014 1:06pm EDT

LONDON May 13 (Reuters) - UK retailer Card Factory has narrowed the price guidance on its London initial public offering to 225-240 pence, two sources familiar with the deal said on Tuesday.

The new guidance, at the lower end of the original price range, gives Card Factory an equity value of 767-804 million pounds ($1.3-1.35 billion), the sources said. Books for the company, which is owned by Charterhouse, are due to close on Wednesday. ($1 = 0.5939 British Pounds) (Reporting by Freya Berry; editing by Pamela Barbaglia)