The Trainline booking app has announced their intention to float on the London Stock Exchange.
Private equity firm KKR who bought Trainline in 2015 for £500m are aiming for a £1.5bn valuation. The company posted revenue of £210m, ticket sales rose by 19% to £3.2bn in the last year.
The company are planning to make at least a 25% of the issued share capital available on the stock exchange, and JP Morgan and Morgan Stanley have been hired to lead the share sale.
Clare Gilmartin, chief executive said, “We are the leading independent rail and coach platform globally, selling tickets on behalf of 220 carriers across 45 countries.
“Our aim is simple: to make rail and coach travel easier for millions of people, saving our customers money, time and hassle, and thereby encouraging more environmentally sustainable travel choices.
“I am especially proud of the team and culture we have created at Trainline and excited by the global growth opportunity that lies ahead for the business.”
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