Merlin Entertainments has said that it is planning to issue shares equating to 20% of the company to the public in an effort to reduce the company’s debt.

The group, which runs the Legoland, Thorpe Park and Alton Towers theme parks, has a turnover of £1 billion a year and is thought to be worth approximately £3 billion.

Shareholders will receive a 30% discount on entry to the group’s sites for a minimum investment of £1,000.