UK retailer B&M price range values chain at up to $4.9 bln in IPO

LONDON Fri May 30, 2014 3:09am EDT

LONDON May 30 (Reuters) - British discount retailer B&M is to be valued at up to 2.9 billion pounds ($4.9 billion) after setting the price range for its initial public offering (IPO) at 230-290 pence a share, two sources familiar with the matter said on Friday.

The price range gives B&M, which is owned by U.S. private equity firm Clayton Dubilier & Rice, an equity value of 2.3-2.9 billion pounds, the sources said.

B&M were not immediately available for comment. ($1 = 0.5982 British Pounds) (Reporting by Freya Berry; editing by Steve Slater)