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Princes Group Floats on London Stock Exchange with £1.16 Billion Valuation

Strategic Insights

— 1 min read

Food manufacturer Princes Group has kicked off its major London stock market float with a valuation of £1.16 billion, making it one of the biggest listings in recent years. The almost 150-year-old firm, known for its Princes Tuna and Napolina brands, will be valued at the lower end of a £1.16 billion to £1.24 billion target range set by the company last week. Princes said that the float, which will see shares priced at 475p per share, will raise around £400 million, which will be used to support further growth through acquisition deals.

Key Takeaways:

  • Princes Group is listing on the London Stock Exchange with an initial valuation of £1.16 billion, within a target range of £1.16 billion to £1.24 billion.
  • The food manufacturer, which has been operating for almost 150 years, is known for its Princes Tuna and Napolina brands, as well as Crisp N Dry and Branston.
  • The company's headquarters is located in Liverpool's iconic Liver Building.
  • Newlat, the Italian food firm that acquired Princes last year, will retain its investment in the business.
  • The listing is expected to raise around £400 million, which will be used to support further growth through acquisition deals.
  • The listing comes as part of a fresh wave of activity for the London Stock Exchange, following a dearth of listings in recent years.
  • Other recent listings include The Beauty Tech Group, which floated at a valuation of around £300 million, and Shawbrook Group, which launched its IPO at a £1.92 billion valuation.

Statistics:

  • £1.16 billion: initial valuation of Princes Group's London stock market float.
  • £1.16 billion - £1.24 billion: target valuation range for the listing.
  • 150 years: length of time Princes Group has been operating.
  • £400 million: expected raise from the listing, which will be used to support further growth.
  • 475p: price per share of the float.
  • £1.92 billion: valuation of Shawbrook Group's IPO.
  • £300 million: valuation of The Beauty Tech Group's flotation.

Sources:

  • "Princes Group kick off major London stock market float with £1.16bn valuation" by Bloomberg.
  • Alamy/PA.

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