June 21, 2019 / 6:32 AM / 3 months ago

CORRECTED-Trainline prices London IPO at top of range

(Corrects total value of shares in second paragraph)

LONDON, June 21 (Reuters) - Britain’s Trainline priced its shares at 350 pence per share on Friday, the top end of its targeted range, in a London flotation that values the rail ticketing company at 1.68 billion pounds ($2.13 billion).

The company plans to raise a total of 951 million pounds, with 110 million pounds coming from the issue of new shares.

The British firm, which sells rail and coach tickets via its website and mobile app, plans to float 56.5% of its business, raising 951 million pounds from the sale of existing and new shares.

Fund managers Baillie Gifford have committed to invest 200 million pounds in the IPO.

Trainline, a familiar brand to most British travellers, will start trading on the London Stock Exchange at 0800 GMT.

Founded more than 20 years ago, the British company sells tickets from 220 rail and coach carriers across 45 European and Asian countries on its website and mobile app, generating net ticket sales of 3.2 billion pounds in the fiscal year 2019.

The company said it will use the proceeds of the IPO to raise its profile and tap into the growing demand for e-ticketed travel across Europe.

Trainline opted to push on with the IPO despite sources saying private equity firms had expressed interest in buying it in recent months.

A previously planned London IPO in 2015 was derailed when U.S. private equity fund KKR bought it for an undisclosed value that sources then put at more than 500 million pounds. ($1 = 0.7883 pounds) ($1 = 0.7884 pounds) (Reporting by Clara Denina Editing by Rachel Armstrong)

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