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Pets At Home poised to set IPO price at 245p

Scott Barbour | Getty Images

U.K. pet supplies retailer Pets At Home has priced its initial public offering (IPO) at 245p –the middle of its price range - a source with knowledge of the flotation has told CNBC.

The IPO, which would value the company at about £1.2 billion ($2 billion), follows fast on the heels of another successful flotation by a U.K. retailer. Two weeks ago online retailer AO.com floated, pricing shares at 285p.

A number of other big-name retailers are also preparing to list in the U.K., including Poundland which is eyeing a £700 million float.

Online takeaway website Just Eat has cooked up interest thanks to its rich price expectations, which could value the company as much as 90 times 2013 earnings before interest, tax, depreciation and amortization – making it one of the most pricey tech stocks on the London Stock Exchange.

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