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New Look appoints advisors for IPO

Fast-fashion chain New Look has appointed a trio of investment banks to advise on its planned return to the stockmarket next year.

The retailer has taken on banks Credit Suisse, Deutsche Bank and J.P Morgan Cazenove to examine the possibility of an IPO in early 2010.

A public listing is unlikely before next year as New Look’s owners wait to see how Christmas trading fares before making a decision.

Private equity firms Permira and Apax Partners took New Look private with New Look founder Tom Singh for £800m in 2004.

New Look was put up for sale two years ago with a price tag of £1.8bn which failed to attract a buyer after a lukewarm response from investors.

Young fashion giant Supergroup, which owns the Superdry and Cult brands, is also planning to list on the stockmarket next year as the appetite for retail floatation’s improves after a near-freeze during the recession.

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