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Financial services firm JTC poised for 310 mln stg London IPO - source

Reuters - UK Focus

By Ben Martin

LONDON, March 8 (Reuters) - Financial services firm JTC Group is poised to list on the London stock market in an initial public offering that values the business at about 310 million pounds ($428 million), according to a source familiar with the matter.

JTC will price its shares at 290 pence apiece in the flotation that could be announced as soon as Friday, the source said.

Jersey-based JTC, which was set up 31 years ago, provides administration services to funds with more than $85 billion in assets, spanning real estate to private equity.

It is majority-owned by its employees and also counts CBPE Capital (Other OTC: CGHC - news) as a minority investor.

Stockbrokers Zeus and Numis are working on JTC's listing plans, which Reuters first reported last month.

($1 = 0.7242 pounds) (Reporting by Ben Martin Editing by Pamela Barbaglia and Mark Potter)