Private 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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