Debenhams expected to float on stock exchange next month

DEPARTMENT store Debenhams was yesterday reported to be finalising plans for a £3 billion (€4.3bn) flotation and will launch on the London Stock Exchange as soon as next month.

Debenhams, which has two shops in Ireland, will make the move in spite of fears that the tough conditions in the retail sector may hurt interest in its shares, according to the Financial Sunday Express.

It is thought the strength of the stock market has tempted its private equity owners to pursue a flotation, with the FTSE 100 Index recently hitting a five-year high.