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Virgin Active and Trainline to Float

Virgin Active and Trainline to Float

Virgin Active is to take a big move towards a stock market flotation valued at around £1.5 billion. Virgin Active is 51 per cent owned by CVC Capital and employs around 12,000 people. It operates 263 fitness clubs in nine countries which includes the UK, Australia, Namibia and Singapore. It’s growing operations in Africa are seen as the reason why it is opting for a listing on the Johannesburg Stock market. It is unknown the time of the listing however a number of banks are to be appointed within the coming weeks to work on the listing.  The move by Virgin Active follows successful listing by Virgin America and Virgin Money which listed on the New York and London Stock Exchange respectively at the end of 2014. Sir Richard Branson’s Virgin Group owns around 45 per cent of the fitness group which is valued at £600 million.

Trainline, the online train ticket system, is to take a stock market listing on the London Stock Exchange. The listing, pitted for February, is expected to value the business at £500 million. The private equity owners want to sell their stake in the coming and raise £75 million in order to pay off debts and settle fees. The value of ticket sales last year was £978.1m, and Trainline said its apps have been downloaded 7.4 million times. Trainline started in 1997 as a call centre selling tickets as part of a division of Virgin Rail.

 

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