LONDON (Reuters) - Financial services firm JTC Group is poised to list on the London stock market in an initial public offering that values the business at about 310 million pounds ($428 million), according to a source familiar with the matter.
JTC will price its shares at 290 pence apiece in the flotation that could be announced as soon as Friday, the source said.
Jersey-based JTC, which was set up 31 years ago, provides administration services to funds with more than $85 billion in assets, spanning real estate to private equity.
It is majority-owned by its employees and also counts CBPE Capital as a minority investor.
Stockbrokers Zeus and Numis are working on JTC’s listing plans, which Reuters first reported last month.
($1 = 0.7242 pounds)
Reporting by Ben Martin; Editing by Pamela Barbaglia and Mark Potter