January 16, 2020 / 7:19 AM / a month ago

Smart meter firm Calisen confirms London IPO plan

LONDON, Jan 16 (Reuters) - Smart meter provider Calisen confirmed on Thursday it will seek a listing on the London Stock Exchange next month, with a 300 million pounds ($391.08 million) share offer that could set a 1.5 billion valuation on the private equity-owned firm.

The offering will comprise of new shares and existing shared owned by KKR and other manager investors, the company said.

The final offer price will be determined following a book-building process, with admission currently expected in February.

Net proceeds from the listing will be used to support future growth and repay company debt, it said.

Calisen is targeting a free float of at least 25% and said up to a further 15% of the total offer size could be made available subject to demand. ($1 = 0.7671 pounds) (Reporting By Lawrence White)

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