Flotation to value Legoland and Tussauds owner at up to £3.3bn

Kasmira Jefford
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ALTON Towers owner Merlin Entertainments announced the price range yesterday for its long-awaited stock market debut, valuing the firm at up to £3.3bn.

Merlin, which is co-owned by private equity groups Blackstone and CVC Capital Partners, said it will be offering its shares between 280p to 330p in an initial public offering that will see between 20 and 30 per cent of the firm sold off.

Up to 10 per cent will be sold by Merlin’s shareholders, who also include the Danish investment firm Kirkbi, which controls Lego Group.

The 280p-330p price range would value the world’s second-largest theme-park operator at between £2.86bn and £3.34bn.

Merlin announced its intention to float earlier this month after turbulent market conditions forced it to shelve plans in 2010.

It aims to raise £200m to reduce debt and pay costs related to the offering, which is due to be completed on 12 November.