THE owner of the RS McColl newsagent chain hopes to raise up to £50 million by floating on the London Stock Exchange.
McColl's Retail Group plans to pay down its existing borrowings following the initial public offering next month.
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The company runs more than 1270 convenience stores and newsagents across the UK.
Revenue in the 12 months to the end of November last year was said to be 2.9% up from £844.7m to £869.4m with underlying operating profit rising from £21.3m to £23.3m.