Princes Group targeting £1.2bn valuation in London IPO
Food and beverage company Princes Group said on Wednesday that it was targeting a valuation of between around £1.16bn and £1.24bn in its London IPO.
Source: Sharecast
The company, well-known for its tinned tuna, said the price range for the offer has been set at between 475p and 590p per ordinary share.
Princes - which confirmed its intention to float on 10 October - said the offer comprises up to 84.21m new ordinary shares to raise primary capital of up to £400m to support the company with further inorganic growth via acquisitions.
In addition, up to a maximum of just over 12.63m new ordinary shares may be sold pursuant to an over-allotment option to raise up to £60m.
On Tuesday, lender Shawbrook said it was targeting a valuation of £1.8bn to £2bn in its London listing.
The company, which confirmed its intention to float on the main market of the London Stock Exchange earlier this month, announced a price range of 350p to 390p.
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