Financial and administration services provider Equiniti has announced plans to float on the premium segment of the London Stock Exchange later this month. Management hopes to raise around £390m in gross proceeds, which will be utilised to pay down debt and boost investment in the group's proprietary technology platforms. The offer will also provide a pay day for the group's private equity owner, Advent International, which bought Equiniti in 2007. A market valuation of just under £1bn has been touted, including existing debt. Shares will be available to retail investors through a minimum subscription of £1,000 via Saga and Beaufort Securities, as well as the group's own Shareview and Selftrade platforms.
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