Merlin entertainments has announced it will be offering its shares between 280 and 330 pence in a float that will see between 20 and 30 per cent the company sold off. The company may be valued at as much as £3.3bn. Merlin Entertainments is the world's second largest theme park operator with more than 70 attractions including Legoland, Alton Towers and Thorpepark.
The sale is expected to raise £200m which will be used to pay off debt. The sale is expected be completed on November 12. Speaking on 21 October, Nick Varney, CEO of Merlin, said:
The IPO will provide Merlin with the platform for our next stage of development and allow us to plan for the longer term. As such we are very excited about this next chapter of our story, and look forward to creating value for our shareholders and more magic for our customers.