SSP floats on London Stock Exchange with £1b market value

Travel concession caterer SSP has set the offer price of its initial public offering on the London Stock Exchange at 210p per share.

SSP said that it would receive £467m of proceeds from the global offer.

Chief executive Kate Swann said: "We are very pleased with the level of support that we have received from a broad range of investors during the IPO process. It is a strong endorsement of SSP's strategy, and of the potential for future growth that we see for our business. This is an important next step for SSP and we are looking forward to life as a listed company."

Also commenting, Per Franzén, non-executive director of SSP and partner at investment advisor EQT Partners, said: "We are very pleased with the outcome of SSP's offering. The strong appetite from investors is a testimony of SSP's strengths. The company is well-positioned for future growth and has a world-class management team focused on driving retail excellence in the business and growing the SSP platform. We are proud of the development of the business during EQT's ownership and look forward to SSP's continued success as a public company"