DFS Furniture valued at up to £654m in IPO

London

DFS Furniture Ltd will be valued at as much as about £654 million (S$1.34 billion) when the UK sofa retailer returns to the London stock market for the first time in more than a decade.

The company, owned by private-equity firm, Advent International Corp, will offer shares at a price of 245 pence to 310 pence apiece, it said in a statement on Monday. At the mid-point of the range, DFS will be valued at £585 million, according to the statement. Final pricing is expected on or around March 6, DFS said, with listing on March 11.