12th Nov 2019 09:04
(Alliance News) - JP Morgan Securities PLC on Tuesday confirmed a shareholder in Trainline PLC has sold off its entire stake in the firm.
Late Monday, JP Morgan said private equity firm KKR Victoria Aggregator LP, alongside some other shareholders, would be selling 68.0 million shares in the company, worth 13.9% combined.
It confirmed early Tuesday all of the shares have been sold at 410 pence each, netting the sellers GBP279 million. Trainline, which hosts an online transport ticket platform, will not get any funds from the sale, as it was of existing shares.
Shares in Trainline, a member of the FTSE 250, were 4.8% lower on Tuesday morning at 421.00p.
Following this sale, KKR and the other shareholders - including funds managed by Index Ventures, Ares, Alven Capital - now own no stake in Trainline. Before, KKR had held 12.4%, and the other shareholders 1.7% combined.
This follows a similar move in September, when the parties sold a combined 65.5 million shares in Trainline at 435p each, netting GBP285 million, so this week's sale was at a lower price. Trainline listed in London back in June at 350 pence per share.
By George Collard; [email protected]
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