* Firm targets $391 mln listing in February
* Company integral to smart meter rollout in Britain
* KKR-backed firm eyes $1.5 bln valuation (Adds advisors, quotes)
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, which will comprise of new shares and existing shared owned by KKR and other manager investors, follows a weak year for equity capital raising in London, with IPOs falling to to their lowest level in a decade in 2019, Refinitiv data showed.
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 comprises two businesses -- Calvin Capital, through which it owns and manages a portfolio of domestic electricity and gas meters, and Lowri Beck, under which it carries out installation, meter reading and maintenance services on behalf of energy retailers.
The UK government wants every home in Britain to be fitted with a smart meter tracking energy consumption under plans to reduce national carbon emissions by 51% below 1990 levels by 2025.
"Calisen is at the heart of Britain's smart meter rollout which will play a critical role in supporting the decarbonisation agenda and will deliver significant benefits to British consumers and energy retailers," Chairman Phil Nolan 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.
Credit Suisse, KKR Capital Markets Limited, Citigroup, HSBC, Barclays and Goldman Sachs have been appointed as joint bookrunners. ($1 = 0.7671 pounds) (Reporting By Sinead Cruise, editing by Lawrence White)