Shares in UK-based online train bookings company, Trainline, fell 6% on Friday after investors cashed in on what was one of Europe’s most successful initial public offerings (IPO) this year, according to the Financial Times.
Shareholders including Trainline’s biggest shareholder, private equity group KKR, Index Ventures, Ares and Alven Capital sold down shares at 435p each raising gross proceeds of £285 million, representing 13.6% of issued share capital.
Trainline floated 56.5% of its business on the London Stock Exchange in June, valuing the company at £1.68 billion on its first day of trading.
The float was the second largest in the UK this year. At Thursday’s close it had a market capitalisation of £2.23 billion.
Earlier this month, the company lifted its full-year group revenue guidance as it posted a 19% rise in first-half ticket sales to £1.8 billion and a 29% jump in group revenue to £129 million.
Photo: Mirko Kuzmanovic/Shutterstock