CD&R-backed B&M raises more than £1bn via IPO


store bmPrivate equity-backed discount store chain B&M European Value Retail has raised £1bn via its IPO in London.

The Liverpool-based company, which is backed by Clayton Dubilier & Rice, priced its IPO at 270 pence per share.

Shares in B&M were in demand this morning with its share price topping 280 pence.

The company has secured proceeds of £1.08bn, which could increase to £1.19bn if over-allotment options are exercised.

It was previously reported that B&M was looking to raise £75m in the IPO.

CD&R first invested in B&M in 2012 in a deal thought to value the company at £965m.

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