LONDON (Reuters) - Asset management house Gartmore is to raise about 250-300 million pounds in the country's biggest initial public offering this year, people familiar with the matter said.

Gartmore on Friday announced that it expected to list on the London Stock Exchange in mid-December.

Gartmore plans to float 30-50 percent of its share capital in an offering valuing it at about 1 billion pounds. The float will be a mixture of new shares and existing shares.

Hellman & Friedman, which owns 50 percent of Gartmore, will decide what percentage of existing shares it wants to sell when the fund house set an indicative price range for the IPO around November 27.

Peers including Aberdeen Asset Management and Henderson trade around 15 times 2010 estimated earnings.

(Reporting by Daisy Ku)

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