UK retailer B&M looks to price IPO at 270 pence a share, say sources-Reuters

(Reuters) – UK discount retailer B&M is seeking to price its London listing at 270 pence a share, after telling investors that orders below that price were likely to miss out, two sources familiar with the matter said on Wednesday.

A price of 270 pence would value the company at 2.7 billion pounds ($4.5 billion). Sources told Reuters on Tuesday that B&M, which is owned by U.S. private equity firm Clayton Dubilier & Rice, had narrowed its price range to 260-280 pence a share, from an original range of 230-290 pence.

Books closed at midday on Wednesday and the price will be finalized in the evening.