Online delivery giant Appliances Online has selected advisers as it paves the way for a flotation on the London Stock Exchange.
The firm has appointed investment banks JP Morgan and Jefferies to help prepare the plan that could be completed by the end of the year, Sky News said last night. It is estimated the firm would be worth £300 million.
That would make it the third biggest online retail pure-play on the London Stock Exchange after food delivery firm Ocado and fashion site Asos.
The flotation of AO.com, known as Appliances Online until its rebranding launched back in May and completed a few weeks ago, joins a number of large firms expected to join the markets in the coming weeks and months.
Internet retailers including Boohoo.com are understood to be considering plans to raise money on the exchange. There is also major activity among big firms including The Royal Mail, expected to float by the end of this month, Zoopla and Saga.
AO.com is owned by entrepreneur John Roberts via his DRL Limited group. Sales in the year to March increased 82 per cent to £274 million and it employs 400 staff. It is also expected to have benefited from the demise of Comet last year.
AO.com accounts for about three quarters of DRL's sales with the remainder from third party fulfilment it provides to other retailers including Next, Argos and Boots. A float could net Roberts £60 million.
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