B&M covered for flotation

Michael Bow
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HIGH street stalwart B&M Retail is on course to defy growing scepticism in the new issues market after getting commitments from investors to back a stock market debut.

The firm is understood to have covered its books on the offering, which came under renewed focus after retailer Fat Face scrapped a share issue last month. The range is thought to be between 230p and 290p although there is no indication yet where it will price. The firm did not comment.