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Online retailer MandM Direct valued at up to 170 million pounds in London float - paper

Published 03/06/2014, 01:23
Updated 03/06/2014, 01:40

(Reuters) - British discount clothing website MandM Direct is planning an initial public offering that will value the online retailer at between 140 million pounds and 170 million pounds, the Telegraph newspaper reported on Monday.

MandM Direct is likely to announce its intention to float shares on London's junior AIM market as early as Tuesday, the paper said, without citing sources.

It added that the company, owned by private equity company TA Associates, was being advised by Canaccord and Investec.

(Reporting by Richa Naidu in Bangalore; Editing by Steve Orlofsky)

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