Photo shop Jessops prices shares

Jessops wants to capitalise on the digital photography boom

Jessops, the UK's largest photographic- goods retailer, could be valued at up to £189m when it makes its stock market debut later in the month.

The company, which has 263 stores in the UK, hopes to raise about £100m to pay off its debts.

Shares in the company, which employs 2,800 staff, will be offered at between 185 pence and 220 pence each.

The company has benefited from the strong demand for digital photography products.

Like-for-like sales rose 6.1% over the last year, with underlying profit up 14%, the company reported.

Digital benefits

"Flotation will help increase our profile ...build on the success we have achieved to date and capitalise on the digital revolution," said chief executive Derek Hine.

In August, Jessops introduced a service which allowed mobile phone users to send photographs from their camera handsets to the store for printing.

"With Mintel forecasting that the total photo imaging market will grow a further 23% to £2.7bn over the next four years, we believe we are well positioned to maintain our momentum."

The group has also announced the appointment of Gavin Simonds as non-executive chairman.

Mr Simonds, 49, also holds non-executive chairman posts at retailer Peacock and ferry firm Red Funnel.

Founded in Leicester in 1935 and operated as a family firm until 1996, Jessops was acquired by private equity firm ABN AMRO Capital in 2002 in a £116m deal.