SOFA chain DFS Furniture has returned to the London stock market after an absence of more than a decade.
The Doncaster-based business, which was founded in 1969 and now has 105 stores in the UK, Ireland and the Netherlands, began selling shares at 255p, valuing the business at £543 million.
It had previously set its indicative price range at between 245p and 310p, which could have seen the firm valued as high as £1 billion.
DFS was founded by Lord Kirkham from a single store in Doncaster. The group was listed on the London market between 1993 to 2004 before Lord Kirkham took it back into private hands.
The firm sold 38% of itself to new investors raising £98 million, which it says it will use to pay off debt and secure cheaper financing.
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