Online shopping club, Ozsale, will reportedly make its debut on the Australian Securities Exchange (ASX) in May.

According to The Australian Financial Review, the offering is expected to value the online retailer at around $500 million.

Macquarie, sole manager on the IPO, is set to embark on a formal roadshow for the business is April and may seek to raise $250 million or more.

The company, founded by British entrepreneur Jamie Jackson in 2006,  racked up revenues of about $250 million for the year ended June 30, 2013.

Last month, veteran online department store, Deals Direct, surprised the retail industry with news that it had begun trade on the ASX.