Bob’s Discount Furniture is seeking a valuation of up to $2.48bn as it prepares for a US initial public offering.

The Manchester, Connecticut-based retailer plans to raise as much as $369.6m by selling 19.45m shares at between $17 and $19 each, according to filings. The company will list on the NYSE under the ticker BOBS.

Bob’s has grown from a single store founded in 1991 into one of the largest furniture chains in the US, operating more than 200 showrooms nationwide. It offers a broad range of home furnishings, including bedroom and dining sets, reclining furniture, and lighting.

The company has been owned by Bain Capital since 2014, when the buyout firm acquired it from KarpReilly and Apax Partners. Bob’s remains profitable and has reported strong growth, though it is exposed to global trade dynamics given its overseas sourcing.

The IPO forms part of a broader reopening of US equity markets for sponsor-backed consumer businesses after subdued activity last year.

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