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UK retailer B&M looks to price IPO at 270 pence a share - sources
June 11, 2014 / 2:46 PM / 3 years ago

UK retailer B&M looks to price IPO at 270 pence a share - sources

LONDON, June 11 (Reuters) - UK discount retailer B&M is seeking to price its London listing at 270 pence a share, after telling investors that orders below that price were likely to miss out, two sources familiar with the matter said on Wednesday.

A price of 270 pence would value the company at 2.7 billion pounds ($4.5 billion). Sources told Reuters on Tuesday that B&M, which is owned by U.S. private equity firm Clayton Dubilier & Rice, had narrowed its price range to 260-280 pence a share, from an original range of 230-290 pence.

Books closed at midday on Wednesday and the price will be finalised in the evening.

$1 = 0.5956 British Pounds Reporting by Freya Berry; editing by Clare Hutchison

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