Private equity firm Bridgepoint’s London IPO could value the company at as much as £2.9bn, in the first major UK listing for the industry in decades.

The buyout group, which has around €27.4bn of assets under management across equity and debt funds, is looking to raise up to £789m when it lists on the London Stock exchange, according to deal terms seen by Bloomberg. Bridgepoint is expected to start trading on 21 July, and set a share price ranging from 300 pence to 350 pence apiece.

Its London IPO will see the company valued at up to £2.9bn – the first major listing by a UK private equity company in almost three decades. The amount raised could soar to £907m, if additional stock is added to the offering to cover an over-allotment option. Bridgepoint is looking to raise £300m for the deal, and selling shareholders make up the rest. Fidelity International, T. Rowe Price and Mawer have put an order in for around £300m of the offering, according to the deal terms.

Read more/Source: City AM