Business

Pets at Home plans flotation

RETAILER Pets at Home has unveiled plans for a stock market flotation expected to value the company at around £1.2 billion.

The announcement adds to the current bout of float fever on financial markets after a raft of companies including discount retailer Poundland which launched share offers worth billions in total.

Around 500 members of staff own 10 per cent of the pet retail business, which will now translate into an average of around £240,000 each, though the holdings of senior executives are likely to be much larger than those of shop workers.