Overview
- Conditional trading began Friday with shares set at 475p, valuing the Liverpool-based food group at roughly £1.16–£1.2bn.
- Princes raised about £420m, including £14m via a retail offer, resulting in a free float of around 13%.
- Major shareholders tightened their hold after NewPrinces subscribed roughly £200m and parent Newlat added about £55m in the offer.
- The pricing came at the bottom of the marketed range and below earlier expectations of around £1.5bn.
- UK officials welcomed the float as a lift for London’s listings pipeline as the company targets growth through acquisitions.