The gift card specialist announced its intention to float this morning, with a valuation of two times EBITDA, and said it had brought onboard banks Citigroup and JP Morgan to list the business. 

According to its most recent results, the retailer’s revenues in the year to April 2020 — a period that included over a month of lockdown in the UK — reached £173m and an EBITDA of £44m.

The retailer said it was considering the float to “further raise the profile of the company” as well as “provide it with a platform for continued growth”.