Britain's biggest online rail booking system Trainline.com is expected to announce its intention to float on the London Stock Exchange as early as tomorrow, Bloomberg reported citing people with knowledge of the matter.
The company is looking at a valuation of about 500 million pounds ($755.45 million), the report said citing two people. (bloom.bg/1HPywSw)
The company had earlier appointed investment bank MorganStanley to oversee a potential 400 million pound float of Britain's biggest online rail booking system, Sky News reported in July. [ID: nL2N0PD2AT]
Trainline.com is also working with JPMorgan Chase & Co on the sale, the Bloomberg report said.
Established in 1999, Trainline was bought by Exponent in 2006 for about 160 million pounds from a consortium which included Virgin, Stagecoach and National Express.
Trainline sells tickets for train travel in Britain online and by telephone. It allows its customers to choose routes and fares based on preferences such as price or time.
Representatives at Trainline.com were not immediately available for comment outside regular UK business hours.
($1 = 0.6619 pounds) (Reporting by Luke Koshi in Bengaluru; editing by Andrew Hay)
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