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JD Sports founders to float Footasylum

JD Sports founders John Wardle and David Makin are reportedly going to float footwear chain Footasylum, which has a predicted value of around £150m before new money is raised through the listing.

Sky News reports that the pair are expected to make tens of millions of pounds from an initial public offering of the chain.

Footasylum’s executive chairman, Mr Wardle, will remain on the board if the company goes public.

Wardle and Markin hired investment bank, GCA Altium, to sell a 40% stake in the business in July this year.

The duo founded Footasylum in 2009, four years after they sold their remaining 45% stake in JD Sports to Pentland Group.

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