Trainline runs off the rails as investors sell shares

Shareholders including private equity firm KKR, Index Ventures, Ares and Alven Capital sold the shares in the online rail booking company at 435p each, raising gross proceeds of £285m.

Following completion of the placing, KKR will hold 59.6m shares in Trainline, which is about 12.4% of its issued share capital. The other selling shareholders will retain 5.8m shares, which is a stake of about 1.2%. Each seller sold 50% of its shares in the placing, which was conducted by JPMorgan.

Trainline floated 56.5% of its business on the London Stock Exchange in June, valuing the company at £1.68bn.

Earlier this month, the company lifted its full-year group revenue guidance as it posted a 19% rise in first-half ticket sales to £1.8bn and a 29% jump in group revenue to £129m.

At 1100 BST, the shares were down 6% at 440.50p.