Print Edition
August 2010 
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PE-owned New Look Pushes Ahead With IPO Plans |
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Claire Spencer, November 2009 |
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(30 November 2009)
UK-based fashion retailer New Look has stepped up plans for a potential initial public offering (IPO) next year, according to a report in the Sunday Telegraph. New Look is currently owned by the private equity firms Permira and Apax.
According to the report, the company has held talks with several investment banks in recent days, ahead of a potential £1.7bn offering. Possible advisors include Deutsche Bank, Goldman Sachs, Credit Suisse, Nomura and JP Morgan Cazenove, although it is thought that New Look will not make a final decision until after Christmas.
The group abandoned its original plans for a listing two years ago, following a lukewarm response from investors.
A £2bn sales of the business also failed when the retailer was unable to agree a price with potential suitors, adds the report.
However, the firm has been relatively healthy throughout the recession, partly due to its focus on affordable high street fashion. Earlier this year, the group reported a 10 percent rise in annual earnings – claiming more than a third of British women and girls had bought an item from its womenswear ranges during the year to 28 March, explained the report.
New Look has 612 across the UK and Ireland. It was unavailable for comment when asked by the Sunday Telegraph.
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