Professional Documents
Culture Documents
An introduction to company law The dual-track public listing/ private sale of thetrainline.com
Workshop
Introduction Companies Buying, selling and listing companies The proposed initial public offering (IPO) or sale of thetrainline.com Role of the trainee solicitor Questions
5113039
5113039
5113039
5113039
5113039
51%
49%
75% 11%
14%
5113039
Overview
thetrainline.com started as a call-centre operation (1997) and then added an online channel (1999), selling rail tickets on behalf of Virgin Rail Group Sells tickets on behalf of most rail companies, and also operates National Rail Enquiries Dual track process formally started March 2006 client preparation from late 2005 Shareholders (especially the majority shareholder, Virgin Group) wanted to raise cash for other business ideas
5113039
5113039
10
Timeline
Summer/ Autumn 2005: internal planning by clients March 2006: Herbert Smith appointed March-June: IPO and private sale preparations May: stock market falls sharply June: to be revealed
5113039
11
5113039
14
Questions?
5113039
15