The Italian-owned enterprise which produces Princes Tuna and the Napolina meals model will unveil plans inside days for a London inventory market itemizing anticipated to worth it at about £1.5bn.
Metropolis sources mentioned an announcement was more likely to be issued on Friday morning.
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BNP Paribas and Peel Hunt are main the deal, with Unicredit and Rabobank additionally mentioned to be concerned.
New Princes is more likely to increase a considerable sum by issuing new shares within the preliminary public providing, which The Sunday Occasions reported final weekend would additionally goal retail buyers.
The corporate produces tinned fish and fruits, in addition to a spread of sentimental drinks and sunflower oil beneath the Flora model.
Princes was purchased from Japan’s Mitsubishi Company amid competitors from personal fairness bidders.
“A potential IPO may provide a tangible opportunity to fully drive the growth potential of the food & drinks business, while also enabling the business to secure additional financial resources to accelerate its external growth strategy,” Newlat mentioned in Could.
If efficiently accomplished, an inventory of New Princes would ship a fillip to the London Inventory Alternate, which has been starved of outstanding new listings within the final couple of years.
New Princes has been contacted for remark.
