London Tunnels to float on LSE

The London Tunnels announced its intention to seek admission to trading on the main market of London Stock Exchange on Friday, which it expects to take place before the end of the month.

It plans to restore, adaptively reuse, and bring back to life the Kingsway Exchange Tunnels in Central London, originally built in the early 1940s, and designed to shelter people during the London Blitz.

The company aims to collaborate with "major technological and entertainment companies" to enable up to 2.0m visitors per year to explore and discover the heritage and history of London during World War 2 and the Cold War, while also offering experiences across the world of the arts, nature, and sciences.

Chief executive Angus Murray said: "This unique set of tunnels, owned by a British company, built by the British Government, for the defence of Britain, that can further enhance London's reputation as a leading tourist destination, should be listed in London. As a result, we are pleased to announce our intention to float on the London Stock Exchange.

"The admission of The London Tunnels to the London Stock Exchange offers both UK and international investors a chance to support, while owning part of, this unique irreplaceable heritage and cultural attraction located in Central London. We envisage The London Tunnels achieving the same iconic status in London as the London Eye."

Reporting by Iain Gilbert at Sharecast.com