Trainline looks to raise £75m through flotation

Picture: TSPL

Picture: TSPL

Share this article
0
Have your say

The Trainline is looking to raise £75m by floating on the London Stock Exchange.

The firm’s private equity owners Exponent, Harbourvest Partners and Northwestern Mutual Life Assurance will sell shares in the sale, which is expected to result in 25 percent of the

business being sold,

The online rail booking service will float in February.

Exponent has an option to sell a 15 percent stake on top of that.

Trainline said that it would use the proceeds from the sale to pay off existing debt and settle bank costs and fees.

The company said that it initially intended to target a total annual dividend payout equivalent to about 25 percent of its profit after tax following the listing and would target higher dividends thereafter.

Established in 1999, Trainline was bought by Exponent for about 160 million pounds from a consortium which included Virgin, Stagecoach and National Express.

The business sells tickets for train travel in Britain online and by telephone. It allows its customers to choose routes and fares based on preferences such as price or time.

Back to the top of the page