DFS listing price set at 245p-310p per share as firm lays out vision for future success

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DFS is the latest company to press ahead with plans to sell shares to the public.

The Doncaster-based soft-furnishings group, which has 100 stores and employs some 3,500, said the price range for its initial public offering has been set at 245p-310p per share, valuing the group at £585million.

DFS expects to raise £98million through the share sale, which it intends to use to cut its debt. Shares will be offered to retail and institutional investors, as well as eligible DFS employees.

Ready for a soft landing: DFS is the latest company to press ahead with plans to sell shares to the public

Following the group’s listing on the stock market, private equity group Advent, its majority owner, will be subject to a 180-day lock up, while senior managers and directors and other shareholders will have to wait 365 days before being allowed to sell down their stake.

'Our vision is to take DFS from being a great British business to a world class business,' chief executive Ian Filby said. 

'We have a proven business model and an excellent track record of delivering long term sales and market share growth, as well as shareholder returns.'