29 May 2024, 13:56
By Furniture News Feb 06, 2015

DFS confirms IPO

DFS Furniture has confirmed its plan to float on the London Stock Exchange. According to the Financial Times, the retailer plans to raise £105m, and is going public to "pay down its debts" and "reduce its costs of financing in the future".

Reuters adds that admission is expected to take place in March.

The offer will reportedly include new shares and a partial sale of shares held by owner, private equity firm Advent International, as well as members of the retailer's management team.

DFS reported "continued strong momentum" in its latest financial report, covering the 13 weeks ending 1st November 2014. The quarter saw continued momentum in sales and EBITDA for DFS, with group gross sales up 15.3% to £197m (2013 – £170.8m), including acquisitions.

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