UK music retailer HMV, which is 43% owned by music giant EMI, has unveiled plans for the largest flotation of a UK-based company in London since last July.
The company, which operates 325 stores selling music, videos and games and also 197 Waterstone's bookstores, said it intended to float by the end of June, subject to market conditions.
An industry source said the firm had not decided exactly how much money to raise from the flotation, but that it would probably be in the order of £600m sterling.
The flotation would be the largest of a UK company in London since life assurer Friends Provident last July. The company is likely to have a market capitalisation of just over £1 billion, and EMI will probably sell around half of its stake in the business.
