British clothing chain FatFace is to list on the London Stock Exchange, it said today, targeting a market value of at least £440m. 

The company is owned by European private equity group Bridgepoint and chaired by a former head of Marks and Spencer. 

It said it aims to raise gross proceeds of up to £110m through the sale of new and existing shares, with a minimum free float of 25%. 

Bridgepoint paid £360m to buy FatFace in 2007 from rival private equity firm Advent. The investment has proved difficult at times, with Bridgepoint injecting a total of £25m in three phases as the retailer struggled to find its niche. 

FatFace has since changed tack from a move to target younger shoppers in favour of a return to its middle-aged core market. Stuart Rose, the former head of Marks and Spencer, joined as chairman in 2013. 

FatFace, whose two founders began by selling T-shirts from a VW campervan in the French Alps, will use the new capital to cut debt to £60m and reduce associated bank costs and fees. 

The company joins several other private equity-owned British retailers that have listed this year to take advantage of firmequity markets. Poundland, owned by Warburg Pincus, and KKR's Pets at Home both floated last month. 

FatFace has 207 stores across the UK, as well as four stores in Ireland and reported adjusted core earnings (EBITDA) of £31.2m in its 2013 financial year.