LONDON, June 25 (Reuters) - UK hospital group Spire is to float on the London Stock Exchange, the company said on Wednesday, and plans to raise gross proceeds of 315 million pounds ($534.6 million).
The company, owned by private equity firm Cinven, will be valued at around 1 billion pounds in the sale of new and existing shares, two sources familiar with the matter said. Spire generated core earnings of 154.1 million pounds in 2013.
The firm is planning a free float of at least 25 percent of issued share capital.
$1 = 0.5892 British Pounds Reporting By Freya Berry; editing by Clare Hutchison