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Trainline

Trainline confirms plans for stock market listing in London

The listing would be one of the largest IPOs this year if successful

Trainline
Trainline sells tickets from 220 rail and coach carriers across 45 countries

UK transport booking app Trainline has confirmed plans to float on the London Stock Exchange.

The company is aiming for a valuation of £1.5bn, according to the Financial Times.

Trainline, which is owned by US private equity firm KKR, intends to float at least 25% of its shares. It could also make up to 15% of current investors’ stakes available to buy.

READ: Trainline could make stock market debut as soon as next month, according to report

Chief executive Clare Gilmartin said: “We are the leading independent rail and coach platform globally, selling tickets on behalf of 220 carriers across 45 countries.

He added: “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.”

Trainline has hired JP Morgan and Morgan Stanley to lead the initial public offering (IPO).

The listing would be one of the largest IPOs this year if successful.

Trainline generated revenue of £210mln and core earnings of £53mln on the back of £3.2bn of tickets sales in 2019.

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