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New Look to consider IPO at board meeting

New Look’s board will consider this week whether to go ahead with a Stock Exchange listing.

Although the retail sector has been de-rated by the City in recent weeks an IPO is an option for New Look, people familiar with the situation told the Financial Times.

The retailer, which will also look at alternatives including a sale to another private equity firm, delivered strong Christmas sales and former Tesco director John Gildersleeve became its chairman this month.

Last year, New Look drafted in JP Morgan Cazenove, Deutsche Bank and Credit Suisse to advise on an IPO. The retailer could be valued at as much as £1.8bn.

New Look said that a float is one option, but no decision has yet been made.

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