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Dutch firm TMF Group aims to raise 340 million euro in London IPO

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Dutch firm TMF Group aims to raise 340 million euro in London IPO

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LONDON (Reuters) – Business services firm TMF Group said it plans to raise gross proceeds of 340 million euros (£301.83 million) from a London listing in November, as the Dutch company tries to reduce its debt burden. TMF, which provides compliance and administration services, said it aims to float at least 25 percent of the company next month. TMF, which is currently owned by DH Private Equity, posted revenue of 283 million euros in the first half of 2017, up from 256 million euros a year earlier. The company’s adjusted earnings before interest, tax, depreciation and amortisation rose 9.5 percent to 69 million euros. Goldman Sachs and HSBC Bank plc are acting as joint global co-ordinators and sponsors on the deal.

(Reporting by Rachel Armstrong; editing by Carolyn Cohn)
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