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Swann's SSP hopes to raise 500 mln stg with London listing

Reuters - UK Focus

LONDON, June 17 (Reuters) - Food outlet operator SSP plans to raise around 500 million pounds ($840 million) when it floats on the London stock market, paving the way for Chief Executive Kate Swann to return to a FTSE listed company.

SSP, which owns brands including Caffe Ritazza and Whistlestop, said it expected to raise the funds through the offer of new shares. It will also refinance its existing debt and use the proceeds to pay down debt.

The offer will enable existing shareholders including EQT (Frankfurt: EQ6.F - news) to partially realise their investment. However the company, EQT and other shareholders will agree to certain lock-ups over their holdings. ($1 = 0.5956 British Pounds) (Reporting by Kate Holton, Editing by Paul Sandle)