2015's First Big UK Tech IPO Is Here

British Train ticket-booking website TheTrainline.com is moving forwards with plans for the first UK tech IPO of 2015, the FT is reporting, with a potential valuation of more than £500 million.

The site is the largest online rail ticketseller in the UK, as well as the country’s fifth largest online retailer. Under plans sponsored by JPMorgan Chase & Co. and coordinated jointly with Morgan Stanley, Trainline’s initial public office offering is floating 25 per cent of share capital, and hopes to raise £75 million.

Trainline has been owned by private equity firm Exponent since 2006. According to the Telegraph, the site and app enjoys almost 21 million visits a month, and its smartphone app has been downloaded 7.4 million times. Exponet reportedly considered selling Trainline before ultimately deciding on an IPO.

CEO Clare Gilmartin said Trainline aspires “to be a travel company in everybody’s pocket… We have a very exciting future, principally driven through mobile.”

Other big UK tech IPO’s expected in 2015 include Auto Trader (an estimated £2 billion), and fashion site Net-a-Porter (in excess of £1 billion), the Telegraph reports.

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