Merlin Entertainments, the second largest visitor attraction operator in the world, has announced that it will float 20 per cent of the company on the London Stock Exchange.

The company, whose operations include Alton Towers theme park in the UK and the Madame Tussauds and Legoland brands, is currently inviting retail investors to take part in the listing.

According to the Telegraph, the primary offering will be around £200m for at least 20 per cent of its shares, to be used to reduce net debt, which stood just under £1.3bn at end of last year and pay for costs.

Around 10-15 per cent of the offering is due to go to smaller shareholders, with a minimum application size of £1,000.

Danish investment company Kirkbi, which owns 75 per cent of the Lego group and its trademarks, said it intends to remain a long-term strategic investor in the company.

Nick Varney, chief executive of Merlin, said: "Merlin Entertainments comes to the market with a consistent record of strong growth in both revenues and profits and bright prospects for the future.

"We have successfully followed a clear and proven strategy to build a high-growth international family entertainment business, built on strong brands and a portfolio of attractions balanced by geographies, products and demographics.

“Our very strong trading performance so far this year, with revenues over 11 per cent ahead of 2012, is a further reflection of this.”

He added: "The IPO will provide Merlin with the platform for our next stage of development and allow us to plan for the longer term. As such we are very excited about this next chapter of our story, and look forward to creating value for our shareholders and more magic for our customers.”

Merlin is second only to Disney in its field and operates 99 attractions in 22 countries.