House of Fraser weighs first quarter float amid rising markets

 
Michael Bow
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DEPARTMENT store House of Fraser has accelerated plans for a listing on London’s stock market in the first quarter of 2014 after appointing Rothschild as advisers.

The store, which posted record sales last year, is expected to hold a beauty parade of banks before Christmas to co-ordinate and run a share offering, with plans to float the company after closely watched trading figures from the festive trading season are revealed.

The float could raise upwards of £350m and comes on the back of a mini-frenzy in London’s new issues market which has seen firms like Merlin Entertainments, Royal Mail and Infinis roar away to successful initial public offerings.

House of Fraser is 20 per cent owned by chairman Don McCarthy, with the majority – 49 per cent – owned by a host of Icelandic banking figures.

All parties declined to comment.