Overview
- Shares were priced at 475p, giving the food group a valuation of roughly £1.16bn to £1.2bn.
- The IPO raised about £420m and created a free float near 13% after sizeable take-up by NewPrinces (~£200m), Newlat (£55m) and a £14m retail tranche.
- The stock showed a muted start, dipping early before ending roughly unchanged on its first day of trading.
- Princes says proceeds will support bolt-on deals and international expansion as it pursues an acquisition-led growth strategy.
- Officials cast the float as a boost for London’s listings market, while the near‑150‑year‑old Liverpool company remains controlled by NewPrinces following last year’s £700m purchase from Mitsubishi.