Regus to seek listing on the London Stock Exchange

One of the largest global providers of serviced officers, Regus, announced flotation intentions yesterday. The company plans to undertake an offering of ordinary shares to institutions by the fourth quarter of 1999.

Regus - whose services include the provision of office space and related support services including telecommunications and technology support - believe this move will enable the group to finance the further growth and development of its business.

Dr George Gray, chairman-designate, said: "Over the past ten years, Regus has grown to become a leading provider of serviced offices. The flotation will provide the group with the financial resources to build on what has already been achieved."

The flotation move seeks to raise the group's market profile, promote the Regus brand and enhance the group's competitive position.

Current chairman Mark Dixon said of the move: "As business world-wide becomes increasingly international, as the use of technology in business continues to change the way we work, and as businesses continue to look for opportunities to outsource non-core activities, so we believe the market for serviced offices and related services should benefit substantially.

"The flotation of Regus will provide he group with the funds to continue to take advantage of the truly global opportunities available to it."

Julie Crisp