Sports equipment and clothes retailer Sportmaster is considering an initial public offering in London next year, two financial market sources said Thursday.
Sportmaster could attract between $600 million and 700 million in the IPO based on its own valuation of $2.5 billion to $3 billion, sources said, adding that the retailer has yet to pick organizers for the issue.
Renaissance Capital forecasts Sportmaster's revenue for the 2010 financial year ending Aug. 31 at $1.3 billion and earnings before taxes, interest payments, depreciation and amortization at $306 million.
Earlier on Thursday, market turmoil prompted fellow Russian retailer Centrobuv to rule out an IPO this year.
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