Princes Group Floats London Market with £1.16 Billion Valuation

Princes Group, a major European food and drink company known for brands like Princes tuna and Napolina, made its debut on the London Stock Exchange with a market valuation of £1.16 billion, priced at the lower end of its targeted valuation range. The IPO raised around £400 million to support further expansion through acquisitions, reflecting the company's ambition for future growth and international expansion. Princes Group, acquired in 2024 by Milan-listed NewPrinces, expects to join the FTSE250 index upon its market debut. Shares initially saw a slight rise but then dipped, signaling cautious investor sentiment amid a revival in London's IPO market, which also saw strong performances from other listings like Shawbrook Group. The listing highlights the company's significant scale, with revenues of £2.1 billion, over 8,000 employees, and a broad global footprint across more than 60 countries. Company executives and UK trade officials viewed the IPO as a positive development for the London Stock Exchange and a vote of confidence in the market's future.