Fairview International PLC, which owns and operates two schools in Malaysia, on Monday announced plans for an initial public offering on the London Main Market.

Fairview said it plans to offer 26.5 million new shares in a placing and subscription. This would raise £2.7 million and give the company a market capitalisation of £55.6 million, based on 556.0 million shares in total.

The IPO will be led by Optiva Securities Ltd, and the start of trading is expected to be on Friday this week.

Fairview was formed to buy and operate two private independent schools in Malaysia, one in the capital of Kuala Lumpur and one in the southern state of Johor, near the border with Singapore. The two schools offer the international baccalaureate programme, and Fairview plans to acquire more schools that offer the IB programme, both in Asia and the UK.

The schools trade under the Fairview brand, which was founded in 1978.

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