Travel firm Hogg Robinson set to revive flotation

Corporate travel business Hogg Robinson today revived plans for a flotation, just days after cancelling the move because of market conditions.

The group, which handles travel arrangements for several blue-chip companies, is reported to have resurrected the listing by cutting the price of shares.

It is expected to offer a 42% reduction on the mid-range of last week’s aborted float. The previous listing would have valued Hogg at £380m (€562m), but that figure is now likely to be in the region of £300m (€443m).

A spokesman for Hogg Robinson confirmed the flotation had been revived and said the new proposals had also been heavily oversubscribed.

It is thought that shares will be priced on Monday.

The decision by Hogg Robinson to press ahead with its return to the stock market – it was last listed in 2000 – reflects a recent recovery in fortunes for the London market.