Furniture specialist DFS is expected to achieve a valuation of between £580 million to £650 million when it floats on the LSE next month. The initial public offering will be set at 245-310p which would generate in the region of £100 million for the business. The funds are earmarked for a paying down of debt and to reduce the business’ financing costs. DFS is second to IKEA in the UK furniture market and generated sales of £675 million last year from its 105 stores in the UK, Ireland and The Netherlands. CEO Ian Filby said, of the float “Our vision is to take DFS from being a great British business to a world class business. This is an exciting time for us as we continue to drive growth initiatives that are already underway against a backdrop of an improving macro-economic environment.”
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