UK soft drinks manufacturer Britvic could be valued at up to £537m (€785m) if its initial public offering is priced at the top of a range announced this morning.

Bookrunners Citigroup and Deutsche Bank will sell up to 151 million shares, equal to 71% of Britvic's share capital, at 210p to 250p, giving the company a market capitalisation of £451m to £537m.