MarlowDonkey
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Various financial websites are reporting that Trainline are considering an IPO. That's an Initial Public Offering where shares are sold to the public on the Stock Exchange.
https://www.ft.com/content/068cb918-7c5c-11e9-81d2-f785092ab560
They announced this around four years ago, but then withdrew it. As I recall, at they time they made the misleading claim that it's always cheaper to buy in advance (on Trainline) without adding the caveat that it only applies if you don't want or need a choice of train departure tines.
https://www.ft.com/content/068cb918-7c5c-11e9-81d2-f785092ab560
Trainline, the transport-booking app owned by US private equity group KKR, has announced its intention to float on the London Stock Exchange. The company is aiming for a valuation of £1.5bn, people briefed on the matter said.
JPMorgan and Morgan Stanley will lead the sale, which would be one of the largest initial public offerings this year in the UK if it is successful.
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 . . . 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.”
The company, which was bought by KKR in 2015 for roughly £500m, doubled ticket sales from £1.6bn in 2015 to £3.2bn in 2019. It said it had plenty of room to grow in a large, fragmented industry and that online bookings accounted for only 39 per cent of tickets in Europe’s top five markets.
They announced this around four years ago, but then withdrew it. As I recall, at they time they made the misleading claim that it's always cheaper to buy in advance (on Trainline) without adding the caveat that it only applies if you don't want or need a choice of train departure tines.
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