KKR Victoria Aggregator LP, through its general partner, KKR Victoria Aggregator GP Ltd., and other selling shareholders sold 65.5 million ordinary shares of Trainline.com Ltd. to institutional investors at 435 pence per share.
KKR & Co. and funds managed by Index Ventures, Ares Management Corp. and Alven Capital Partners, among other selling shareholders, generated gross proceeds of £285 million from the share sale by way of accelerated bookbuild.
Following completion of the placement, KKR will own 59.6 million ordinary shares of Trainline, or about 12.4% of the company's issued share capital, while the other sellers will own 5.8 million ordinary shares, or about 1.2% of the share capital.
Trainline, which is an independent U.K. rail and coach ticket-booking platform, did not receive any proceeds from the offering. All of the shares kept by the sellers after the placement will remain subject to the original initial public offering lock-up condition.
J.P. Morgan Securities PLC, which conducts its U.K. investment banking activities as J.P. Morgan Cazenove; Morgan Stanley & Co. International PLC; and KKR Capital Markets Ltd. were joint book runners for the transaction.
