British discount retailer Poundland has set its share offer price range at 250-300 pence.

This gives it an implied market value of £625-750m when its lists on the London Stock Exchange, according to an industry source. Poundland trades as Dealz in Ireland.

The book build amongst institutional investors for Poundland's share offer was currently underway, the source said today.
The chain of over 500 stores, which sells items for £1, said last month its share offer would comprise a partial sale to institutional investors of the holdings of majority owner Warburg Pincus, the US private equity firm, and senior management.

Poundland, the first British discount retailer to seek a public listing, will not be issuing any new shares to investors in the offer.
Warburg Pincus owns 76% of Poundland, with the balance owned by the retailer's management, led by chief executive Jim McCarthy, a 30-year veteran of the retail sector.
Separately today, Britain's biggest pet shop group Pets at Home set its share offer price at 210-260 pence. This gives it an implied market value of £1.05-1.30 billion.
The firm, mainly owned by US private equity group KKR, is looking to raise about £280m from the sale of new shares, while KKR and management are also expected to divest partial holdings.
Poundland and Pets at Home's flotations are two of many expected in Britain's retail sector in 2014 on the back of the country's gradually improving economy and consumer outlook.
Convenience store McColl's and online domestic appliances firm AO World have already listed, while fashion retailer has announced plans to list on London's AIM next month.