Regus Business Centres will today announce plans for a £1bn flotation.
The float is expected to value the business at three times what it was worth last August. Regus will also be classified in the support services sector instead of the lower rated property sector on the stock exchange.
The company hopes to raise £250m for further expansion of serviced offices from the listing. Mark Dixon, founder and chairman of the company, will also see his stake diluted from 82.5% to 60%.
Financial Times 01/09/99 page 17
