SMART meter firm Calisen yesterday confirmed its intention to float in London next month with the goal of raising £300m.

The float will value the company at around £1.5bn.

The energy company, which is backed by private equity firm KKR, said it would use the funds to clear debt and support future growth.

Ex-Eircom boss Phil Nolan is joining the firm as chairman.

"We expect new shareholders in the company to benefit from Calisen's strong position in Britain's smart metering segment," he said.

Banks advising on the float include Credit Suisse, Citi, HSBC, Barclays and Goldman Sachs.

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