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Report: JD Sports founders plan IPO for Footasylum

The founders of U.K. retailer JD Sports Fashion Plc are planning to launch an IPO for their Footasylum chain, Sky News reported Oct. 5, citing inside sources.

The move by John Wardle and David Makin is expected to be announced later in October, the sources said. The IPO would reportedly value Footasylum at about £150 million.

If the offering takes place, Wardle and Makin intend to retain their stakes in the business, according to the report. Meanwhile, Wardle would remain on the board of Footasylum, where he serves as executive chairman.

Footasylum was launched in 2005 by Makin and has 59 stores around the U.K. offering footwear and apparel, with plans to expand that to 150 outlets.

A spokesman for Footasylum declined to comment to Sky News about the matter.