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    Sports World to float at 2 billion pounds

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    Sports World is to float on the London Stock Exchange in a deal expected to value the company at around £2 billion. With a valuation ranging between 250p and 310p per share, the IPO is expected to value the entire company at between £1.8 billion and £2.23 billion.

    The group, which will trade under the name International, also owns the rights to some key brands including , and brand .

    “We believe Sports Direct has the potential to become the leading, most profitable sports retailer in the world. Following a review of the options, we have decided that listing the business is an important step in achieving this aim,” said , who also owns stakes in John David Group and JJB Sports. The entrepreneur recently also bought a 29.7-per-cent stake in Blacks Leisure.

    Sports World, which runs a chain of 370 sports stores across Britain, delivered pretax profits of £74 million in 2005. The company is tipped to report earnings before interest, tax, depreciation and amortization of £180 million to £200 million, and pretax profits of £125 million to £130 million for the year to April 2007.