Business travel company Hogg Robinson set a wide indicative price range on Tuesday for its planned return to the London stock market, giving a market value of 380 million pounds at the midpoint.

The firm, majority owned by private equity firm Permira, said it expected its shares to start trading at between 140 pence and 220 pence apiece.

It confirmed plans to raise 190 million pounds by issuing new shares. That would mean selling 105.6 million shares at the midpoint of the indicative price range.

Its owners also plan to sell up to 71.8 million existing shares, the firm said in a statement.

Hogg Robinson said on September 4, when it unveiled plans to return to the stock market after a six year absence, that Permira would sell some of its stake, but declined to specify how much.

We are very pleased with the interest that has already been shown in the early stages of our intended IPO, Chief Executive David Radcliffe said in a statement.

The firm said it expected conditional dealings in its shares to start on, or before, September 27.

Hogg Robinson, which helps manage expenses as well as making travel arrangements for companies, said earlier this month it would use the money raised from selling new shares to refinance part of its debts.

It also plans to expand its business and to make a one off payment of 28.5 million pounds into its pension scheme.

Lazard & Co. Ltd is acting as financial adviser to the company for the global offer with Merrill Lynch as joint sponsor. Citigroup, Credit Suisse, Lehman Brothers and Merrill Lynch International are acting as bookrunners for the offer.

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