New Look picks banks for possible IPO

British fashion retailer New Look has picked JP Morgan Cazenove, Deutsche Bank and Credit Suisse to handle a possible initial public offering next year, an industry source said on Wednesday.

The source said New Look, owned mainly by private equity firms Permira and Apax , would decide after Christmas whether to pursue a flotation which some newspapers have said could value it at £1.7bn.

“They’re focusing on Christmas at the moment. An IPO is an option, but it’s one of several options,” the source told Reuters.

New Look declined to comment.

The fast-growing chain is one of a number of retailers looking at a possible IPO next year amid rising equity markets and signs of a consumer recovery.

Other flotation candidates include online grocer Ocado, pet food specialist Pets at Home and fashion retailer Supergroup