Watch chain eyes float

THE biggest seller of luxury watches in Britain will be valued at up to £660m when it lists on the London Stock Exchange this summer.

Watches of Switzerland will sell its shares for between 250p and 277p. The chain, which was responsible for half of UK Rolex sales last year, did not say when it plans to list although the move is expected within weeks. It has a 35pc share of the luxury watch market in Britain with 125 shops and earned revenues of £746m in the year to January.

It will raise at least £200m, which will pay off debt. Chief executive Brian duffy said: ‘The stock market is pretty good at the moment – the fear of a hard Brexit has definitely dissipated.’