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)

(c) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

• Tweet

• Latest Business articles

  Oracle hardware sales drop, shares fall

  Analysis - OPEC, IEA clash over oil reserves weapon

  Glaxo to pay $41 million to U.S. states over drug plant

  U.S. debt talks collapse, Republicans walk out over taxes

  G20 clinches first farm deal, dodges regulation

  FTSE seen climbing through to mid-2012 - Reuters poll

  Bank of Ireland raises 2 billion euros in debt swap

  Barclays unit advises "stay the course" on equities

  G20 agrees farm deal, soft on regulation

  Airbus wins record $18 billion order from AirAsia

• Browse STV Jobs»

  CUSTOMER SERVICE ADVISOR X 5 Glasgow | £7.50 - 7.50 per hour

  French B2B Customer Advisor in Recruitment sector Edinburgh | £14000 - 16000 per annum

  Part-Time Typist Cumbernauld | £7.00 - 7.00 per hour

  Search STV jobs