UPDATE 1-Time Out to raise $130 mln in London listing

(Adds CEO comments, details, background)

June 9 (Reuters) - Time Out Group Plc IPO-TIME.L, the media company that started as a London culture and entertainment magazine, said on Thursday it expects to raise 90 million pounds ($130 mln) in its initial public offering on London's junior stock market.

The company’s shares are due to start trading on Tuesday, just ahead of Britain’s June 23 referendum on whether to stay in the European Union, although the company said it did not expect to be affected by investor uncertainty about the vote.

“We were born here in London and we are proud of it, but I don’t see how the referendum has any bearing on the growth or the future of the company,” Chief Executive Julio Bruno told Reuters.

Lord Stuart Rose, chairman of the Britain Stronger in Europe campaign to keep Britain in the EU, is one of Time Out’s directors.

The company, which has expanded abroad and online, said it planned to use the money from the IPO to continue with its growth plans, which it is counting on after making operating losses in 2015.

The plans include launching an e-commerce platform that would allow users to make bookings for hotels and other services in key cities listed on its website, while Time Out would charge the hotels and other service providers a fee.

Bruno said the company is also in advanced discussions to launch five more of its Time Out Market food halls to add to the one in Lisbon, Portugal, which contributes just over 10 percent of the company’s annual revenue.

Plans for new Time Out Markets include cities such as New York, Miami, London and Berlin.

On Thursday, the company said it has provisionally sold shares at 150 pence apiece, and expects to have a market value of around 195 million pounds when the shares debut on London’s Alternative Investment Market.

Time Out magazine was founded in 1968 by Tony Elliott, using 70 pounds during a summer break from university. He sold a controlling stake to Oakley Capital Private Equity in 2010.

Oakley has helped to transform the business, making its print magazine free in London, New York and Chicago, and investing in its digital businesses.

Following the listing, Oakley is expected to own 34.9 percent of the company, a Time Out spokesman said.

The company, which says it now reaches around 111 million people a month across its operations, made 28.5 million pounds of revenue and operating losses of 18.5 million pounds in 2015.

Liberum Capital is acting as nominated adviser and sole bookrunner to Time Out, it said. ($1 = 0.6904 pounds) (Reporting by Noor Zainab Hussain and Vidya L Nathan in Bengaluru; Editing by Mark Potter and Susan Fenton)