Trainline slumps as KKR sells off its shares

Trainline shares fell on Tuesday after a group of investors led by private equity firm KKR sold off their shares in the online rail booking company.

KKR - Trainline's biggest shareholder - along with funds managed by Index Ventures, Ares and Alven Capital sold an aggregate of 68 million shares through an accelerated bookbuild to institutional investors. The shares were sold at 410p each, raising gross proceeds of £279m.

Following completion of the placing, KKR and the other selling shareholders will no longer own any shares in the company.

Trainline did not receive any proceeds from the placing.

At 0925 GMT, the shares were down 5% at 420p.