Trainline prepares £75 million IPO in June to fund expansion plans
The railway ticket app is looking to raise up to £75 million when it lists on the London Stock Exchange next month.
Trainline is eyeing an initial public offering (IPO) in June, with the company hoping to use the capital raised to finance its expansion plans.
The rail and coach ticket app is looking to raise up to £75 million in its IPO on the London Stock Exchange’s (LSE's) main market this summer in exchange for a 25% stake in the company.
Trainline the newest unicorn on the market
According to reports, Trainline will secure unicorn status – a privately held start-up valued at £1 billion or more – with the company targeting a £1.5 billion valuation when it debuts on the LSE next month.
Trainline is owned by US-based private equity KKR, which acquired the company back in 2015 for £500 million.
With KKR’s backing the company was able to double ticket sales from £1.6 billion at the time of acquisition to £3.2 billion in February this year when its financial year ended.
Trainline also manged to record an operating profit of £10.5 million after suffering losses over the last three years as the company invested heavily in growing the business.
The company has not released a share price range, but its financial advisers have commenced the book-building process.
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