Princes Set to Make Waves in London IPO, Chancellor Reeves Courts Listings
Tinned tuna giant Princes is set to make waves in the City with a London IPO. Meanwhile, Chancellor Rachel Reeves has been courting potential listing candidates, with Shawbrook Bank's £2 billion float on the horizon.
Princes' decision to go public in London follows a string of high-profile listings from other sectors. Beauty Tech Group and Fermi both made their debuts last week, joining Revolut in considering a dual listing in the capital and New York.
Reeves, who met with potential candidates at a Goldman Sachs-hosted event, is exploring ways to boost London's appeal. She is reportedly considering a stamp duty holiday for newly-listed UK shares. This move could help London compete with Wall Street, after AstraZeneca's decision to list directly there raised concerns about the future of the London market.
Shawbrook Bank's IPO, which has been delayed earlier this year due to market turmoil, is now expected to go ahead. The float will help fund the bank's growth and allow its private equity backers to cash in some of their stake. Finance chief Dylan Minto expressed confidence in London as the venue for raising capital.
Princes' IPO and Shawbrook's upcoming float signal a vote of confidence in the London stock market. With Reeves' plans to make London more attractive for listings, the City could see a resurgence in initial public offerings.
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