New Look Chooses Banks for IPO

British fashion retailer New Look has picked JP Morgan Cazenove, Deutsche Bank and Credit Suisse to handle a possible initial public offering next year, an industry source said on Wednesday.

The source said New Look, owned mainly by private equity firms Permira [PERM.UL] and Apax [APAX.UL], would decide after Christmas whether to pursue a flotation which some newspapers have said could value it at 1.7 billion pounds ($2.8 billion).

“They’re focusing on Christmas at the moment. An IPO is an option, but it’s one of several options,” the source told Reuters.

New Look declined to comment.

The fast-growing chain is one of a number of retailers looking at a possible IPO next year amid rising equity markets and signs of a consumer recovery.

Other flotation candidates include online grocer Ocado, pet food specialist Pets at Home and fashion retailer Supergroup. (Reporting by Mark Potter, Editing by Victoria Bryan) ((mark.r.potter@thomsonreuters.com; +44 20 7542-2943; Reuters Messaging: mark.potter.reuters.com@reuters.net)) ($1=.6035 Pound)