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* Public markets watch Scottish referendum
* Bankers advise avoiding referendum day deals
* Lloyds sale among the possible affected
By Freya Berry
LONDON, Sept 10 (Reuters) - Bankers are advising companiesplanning London stock market listings to avoid launching them inthe run-up to next week's Scottish independence vote orimmediately after it, because of the potential for marketvolatility.
Investors are watching the Sept. 18 referendum with renewedinterest after a weekend opinion poll showed the "Yes" camp-representing those in favour of independence - with a narrowlead.
"There's certainly a wait-and-see approach for the nexteight days. People are nervous. Because the poll was so suddenthey have been reassessing their risk appetite," said AdamGishen, a partner at advisory firm Ondra Partners.
"What we've been seeing is a couple of start dates for IPOroadshows being pushed back."
With deals like initial public offerings (IPOs) andsecondary share sales particularly sensitive to marketconditions, one senior ECM banker at a major firm said they wereadvising clients not to launch either on Sept. 18 or 19 becauseof the potential impact the poll could have on currency andstock markets.
No British companies have announced their intention to floatsince the summer - a late start after the summer break comparedto last year, when Foxtons was announced on August 27 -although bankers say there are two or three offers planned fornext week.
"I was expecting a couple this week but I think people arejust holding off. If it's a good company you don't need to rushit out the door," one broker, who declined to be named, said.
"If you look at the standard two-plus-two timetable youreally don't want to be bookbuilding at this time," the brokeradded, referring to the two weeks of roadshows and two weeks ofbookbuilding that usually follow an official announcement of an"intention to float".
"NOBODY KNOWS"
Concerns over the vote come at a time when companies alreadyface stiff competition for investor attention, with stock marketlisting proceeds quadrupling to $55.5 billion so far in 2014against the same period last year.
UK retailer DFS, British Car Auctions and lendersAldermore and Virgin Money are amongthose tipped to list this year.
Bankers said that the Scottish referendum had not yet causedmajor worries for firms seeking to float.
But they added that companies with UK-centred operations,particularly those holding Scottish mortgages or loans such asAldermore and Virgin Money, could face depressed valuations dueto uncertainty over future earnings and outlook.
Aldermore and Virgin Money declined to comment.
Bankers also said the government's sale of the next trancheof Lloyds shares could be affected. The sale could goahead in September if there is a No vote and a positive sharereaction, a banking industry source said, but would be postponedfor some time in the event of a break-up.
Lloyds and UK Financial Investments, the body that managesthe government's 25 percent stake in Lloyds, declined tocomment.
"There are all these things that nobody knows," a bankersaid. "It's very hard to value a company in these conditions." (Additional reporting by Alexander Smith and Matt Scuffham;Editing by Elaine Hardcastle)
