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) ((firstname.lastname@example.org; +44 20 7542-2943; Reuters Messaging: email@example.com)) ($1=.6035 Pound)