B&M Retail goes for high IPO price

Marion Dakers
B&M Retail is expected to set the price of its initial public offering at 270p per share today, in a show of confidence in the float despite a string of recent disappointments on the London market.

The bargain retailer had earlier this week revised up its range to between 260p and 280p per share, encouraged by strong demand from institutions, sources said.

The price would value the Manchester-based firm at £2.7bn.

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