Dutch business services firm TMF Group has announced plans to list in London with a share offering to raise €340mln, around US$399mln slated for November.
TMF, which provides financial, legal and staffing administrative services to multinational businesses globally, said it aims to float at least 25% of the company's shares next month, giving it a market capitalisation of around €1.4bn.
The group said proceeds of the offering would be used to pay down net debt in order to reduce its leverage to approximately 2.5 times underlying earnings (EBITDA).
TMF, which has been owned by DH Private Equity since 2008, saw its adjusted EBITDA increase by 9.5% to €69mln in the first half of 2017, on revenue of €283mln, up from €256mln a year earlier.
The listing would be one of the biggest on the London exchange this year - Russian firm En+ and British Virgin Islands firm J2 also announced IPO plans today.