Exponent-backed rail ticket website thetrainline.com eyes £400m valuation from IPO

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train ticket barrier railPrivate equity-backed UK rail ticket retailer thetrainline.com is reportedly eyeing a stock market listing which could value it at more than £400m.

Owner Exponent Private Equity plans to appoint advisors for the float in the next few weeks according to Sky News, which cited unnamed sources.

Exponent tried to sell Trainline in 2012, but scrapped the process after failing to find bidders willing to meet its £300m-plus asking price.

Last September the company secured a £190m loan to refinance its existing debt and pay a dividend to Exponent, according to Reuters.

The package reportedly included a £140m loan from Ares Management, Babson Capital, BlueBay Asset Management and the Bank of Ireland and a £50m revolving credit facility from Barclays and HSBC.

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