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Upper Crust owner SSP to price IPO at lower end of estimates-Telegraph
June 30, 2014 / 8:12 PM / in 3 years

Upper Crust owner SSP to price IPO at lower end of estimates-Telegraph

June 30 (Reuters) - SSP Group Ltd, owner of Upper Crust and Caffe Ritazza, is expected to price its initial public offering at the lower end of market expectations, British newspaper The Telegraph reported on Monday.

SSP's shares were being marketed by bankers between 200 pence and 240 pence, giving it a market capitalisation of about 1.4 billion pounds ($2.4 billion) to 1.6 pounds, the paper said without citing sources.bit.ly/1jDGzEN

Earlier this month Reuters had reported that the food and drink company headed by retail veteran Kate Swann could have a stock market valuation of between 1.6 billion pounds and 2 billion pounds including debt.

SSP could not be reached for comment out of business hours. ($1 = 0.5877 British Pounds) (Reporting by Esha Vaish in Bangalore; editing by Andrew Hay)

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