Luxury shoemaker Jimmy Choo is expected to price its London stock market listing at 140 pence a share, the bottom of the price range, two sources familiar with the matter said today.

The price gives the company an equity value of 546 million pounds (US$874 million). The firm had initially set a price range of 140-180 pence a share before narrowing it to 140-160 pence earlier this week. Trading is due to begin tomorrow.

Weaker equities markets have recently hit demand for new share issues in Europe, with British bank Aldermore cancelling plans yesterday to float in London.

French energy services firm Spie and Italian cosmetics firm Intercos failed to attract enough demand for their initial public offerings (IPO), resulting in both being pulled last week.

Fund managers have also expressed concern that Jimmy Choo had around 100 million pounds of debt and was spending more than the industry average on opening new shops.

- Reuters