(Corrects lower end of price range to 225 pence from 250 pence)
* Prices IPO at 225-300 pence per share
* Price range gives firm an equity value of 764-954 mln stg
By Freya Berry
LONDON, May 1 British greeting cards retailer
Card Factory is set to sell around 400 million pounds ($676
million) of shares in a stock market listing, two sources
familiar with the matter said on Thursday, the latest in a
string of UK retail flotations.
Card Factory has priced its initial public offering at
225-300 pence a share, the sources said, which would give the
company an equity value of 764-954 million pounds ($1.3-$1.6
billion) after its market debut.
The offer consists of 90 million pounds of new shares being
sold by the company and 310 million being sold by existing
shareholders, the sources said.
European private equity owner Charterhouse is
aiming for a minimum of 40 percent of Card Factory's shares to
be listed, with an option to for up to 50 percent if there is
Card Factory declined to comment.
The card company, which targets the value end of the market,
is following hot on the heels of retailers such as KKR-backed
Poundland, which floated last month.
($1 = 0.5919 British Pounds)
(Reporting by Freya Berry; Editing by Kirstin Ridley and Mark