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CD&R-backed retailer B&M to price IPO at 230p to 290p

30 May 2014

image (17)Private equity-backed UK discount retailer B&M could reportedly be valued at as much as £2.9bn in its upcoming IPO.

The chain, which is backed by private equity firm Clayton, Dubilier & Rice, has set the price range for the IPO at between 230 and 290 pence per share, said Reuters, citing two sources familiar with the matter.

This price range would give the company a market cap of £2.3bn to £2.9bn.

The valuation gives B&M, which is expected to make a profit of £105m in the year to March 2015, a price-earnings multiple of 22 to 27.7 times, said the people.

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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