Online appliances retailer plans March flotation

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ONLINE appliances retailer AO has announced plans to float on the stock market next month netting its founder an expected £400m windfall.

The share offering is expected to value the Bolton-based firm at around £1 billion, 14 years after it was started by kitchen appliances sales executive John Roberts, who now owns a 40 per cent stake. Since then it has grown to take a 24 per cent share of the online market for major domestic appliances in the UK.

Vicar Lane, Leeds City Centre.

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