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Petrol station firm MRH eyes £1.5bn float

Petrol station firm MRH has appointed bankers to pursue a £1..

Petrol station firm MRH has appointed bankers to pursue a £1..

Petrol station firm MRH has appointed bankers to pursue a £1.5bn stock market flotation next year, according to reports.

Citi, JP Morgan and Numis Securities will advise the firm, which runs over 450 service stations portfolio, Sky News reported tonight.

The majority of MRH's stations are branded as Esso and BP. The firm also working to grow its fast food offer with branded partners such as Costa Coffee and Subway.

Read more: Arqiva scraps £6bn float amid market uncertainty

MRH was established as Malthurst in 1997, according to its company website. In 2004 it acquired the operations of Kuwait Petroleum GB followed by large acquisitions from Texaco, BP and Esso.

The firm has its head office in Epping, Essex, and a further office in Egham, Surrey.

An initial public offering (IPO) would come at a time when some firms have elected to put fundraising plans on hold amid uncertainty over the broader economic environment.

On its site the firm notes: "MRH and its shareholder are currently assessing a range of strategic options which may include a potential Initial Public Offering (IPO).

"No decisions have been made and there can be no certainty that any process will be formalised."

MRH could not be immediately reached for comment.

Read more: Financial watchdog publishes IPO reforms widening access to research

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