Office reportedly going ahead with 300 million IPO

Office would be allegedly going ahead with its initial public offering plan that could value the private equity-backed company at around 300 million pounds (453.09 million dollars), sources familiar and quoted by Reuters said.

Same sources, who preferred to remain anonymous, indicated that Office has selected JPMorgan Chase & Co and Jefferies Group to lead its London listing in the coming months.

It is worth to remember that reports broke last summer that the owner of the British shoe retailer, private equity firm Silverfleet Capital, was considering floating the chain and was close to hiring JPMorgan.

The retailer, which reported core earnings of around 35 million pounds at the end of 2014, operates 153 sites, primarily in the UK and Ireland.

Silverfleet, which is advised by Rothschild, hopes to finalise a London float towards the end of March depending on market conditions, two of the sources said.

Representatives at Office were not available for comment, while spokesmen for Silverfleet, Rothschild, JPMorgan and Jefferies declined to comment.