Oz bookstore owner RedGroup could float before Christmas

<p>Melbourne-based bookstore owner RedGroup is rumoured to be poised to list on the Australian Securities Exchange before Christmas, after it posted &quot;impressive&quot; results, Smart Company reports. </p><p>RedGroup, which owns the Borders chain in Australia, New Zealand and Singapore, as well as Australian chain Angus &amp; Robertson and the Whitcoulls chain in New Zealand, is currently owned by Private Equity Partners, which thought to want to offload the business.</p><p>&quot;The company&#39;s results have heightened speculation of a pre-Christmas float,&quot; Smart Company said, citing 52% revenue growth for 2008-09 to $685m as a core reason, although this was partly boosted by integration of the Borders chain, which RedGroup bought in June 2008.</p><p>RedGroup&#39;s increase in earnings before interest, tax, deprecation and ammortisation more than tripled from $14.1m to $42.4m, the website reported.</p><p>Executive Chairman Rod Walker said in a statement: &quot;The group now has diversity and a strong position in the market. We also have a great team in place from the store level right up through the support office.&quot;<br /></p>