House of Fraser considering return to the stock market

Tuesday, 20 August 2013

Department store chain House of Fraser is reportedly considering a return to the stock market, after seven years under private ownership, to help simplify its complex ownership structure.

The 161-year-old business, which has been the subject of takeover interest in the past year, is currently owned by executive chairman Don McCarthy and his family who control a 20 percent stake, while a further 49 percent of the company is in the hands of representatives of failed Icelandic banks, who took control of the shares when previous owner Baugur went bust, according to The Telegraph.

Other big shareholders include Scottish tycoon Tom Hunter and Lloyds Banking Group.

It is thought that McCarthy is leading the float plans for the department store, which could be valued at between 200 and 300 million pounds in a stock market flotation.

The retailer, which operates 61 stores across the UK and Ireland, has already floated on the stock market twice and was last taken private by Icelandic tycoon Jón Ásgeir Jóhannesson’s Baugur Group in a 350 million pound deal.

House of Fraser declined to comment.

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