SuperGroup was expected to achieve an IPO valuation of £395m as Retail Week went to press.

The SuperGroup IPO, which is oversubscribed, will raise £125m. Of that, £120m is expected from institutional investors and £5m from retail investors.

In the first retail sector float since Sports Direct in 2007, shares are expected to be priced at 500p. The market capitalisation would only be slightly below the originally mooted £400m, despite a jittery market.

The retail offer will be opened to the public on Monday and close on March 22.

Founder Julian Dunkerton, who started the business from a market stall in 1985, is expected to retain a stake of about £130m.

SuperGroup runs fashion brand Superdry and Cult clothing stores. Its flotation success would follow the postponement of New Look’s IPO and abandonment of Matalan’s sale process due to turbulent market conditions.

However, appetite for SuperGroup has been strong because of growth prospects and its debt-free status.

SuperGroup is expected to float by the end of this month.

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