International food operations giant New Princes is preparing for a significant listing on the London Stock Exchange, a move City officials hope will ignite a wave of new flotations. The Italian-owned company, which produces Princes Tuna and manufactures Flora and Branston products, is engaging investors to support an IPO that would enable the firm to separate its food arm. The company is expected to be valued at a minimum of £700 million, with an autumn target in mind.
New Princes, previously known as Newlat Food, is already listed on the Milan Stock Exchange, where both its main group and dairy division are traded. The company rebranded from Newlat to New Princes after acquiring the Princes food business from Mitsubishi for £700 million in 2024. The anticipation of a City float comes amid growing speculation that numerous firms will seek to list in the coming year.
Specialist lender Shawbrook was reported last month to be planning a London IPO in the second half of the year. The bank, owned by private equity firms BC Partners and Pollen Street, is moving forward with plans targeting a valuation of up to £2 billion, according to the Financial Times. Meanwhile, Klarna-challenger Zilch remains optimistic about its plans for a London float. Speaking at an Innovate Finance summit in October 2024, the fintech’s chief executive, Philip Belamant, expressed a strong commitment to the UK, highlighting plans to double the size of their staff by hiring over 400 people in the next eighteen months.
Earlier this year, fintech favourite Monzo was the subject of widespread IPO speculation after Sky News reported the bank was close to hiring investment bankers to lead a major public listing valued at over £6 billion. However, the fintech’s board and chief executive, TS Anil, are reportedly divided on whether to pursue a London listing or consider an overseas option on Wall Street.
