LONDON (Reuters) – Business services firm TMF Group said it plans to raise 340 million euros (£302.73 million) from a London share listing in November, as the Dutch company tries to reduce its debt.

TMF, which provides regulatory compliance and administration services, said it aims to float at least 25 percent of the company’s shares next month, giving it a market capitalisation of around 1.4 billion euros.

The listing would be one of the biggest on the exchange this year. London IPOs this year already outpace 2016, a year marked by volatility and a string of pulled listings.

London IPOs from Russian firm En+ and British Virgin Islands firm J2 were also announced on Thursday.

But Britain’s decision in June 2016 to leave the European Union has continued to fuel investor caution.

The proceeds of the listing would be used to pay down debt to reduce its leverage to approximately 2.5 times net debt to adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) as at year end, the company said, without specifying the current level of debt.

TMF, which has been owned by DH Private Equity since 2008, posted revenue of 283 million euros in the first half of 2017, up from 256 million euros a year earlier. The company’s adjusted EBITDA rose 9.5 percent to 69 million euros.

It made a loss of 37.8 million euros for the period, up from a loss of 28.7 million euros in the first half of 2016.

TMF provides financial, legal and staffing administrative services to multinational businesses globally with the bulk of revenue coming from Europe, Middle East and Africa.

The group’s clients are mainly “using subsidiaries to conduct commercial operations outside of their home jurisdiction and to create more efficient overall corporate structures”.

“Given the rapidly changing and increasingly complex regulatory environments in which these companies must operate, our global presence and trusted local expertise are highly sought after,” Frederik van Tuyll, chief executive of TMF Group said.

Goldman Sachs and HSBC Bank plc are acting as joint global co-ordinators and sponsors on the deal.