A major chemicals producer is set to be the first blockbuster float of the year in London.
In a much-needed vote of confidence in the City, WE Soda said it would seek a stock market listing this year in a deal that could value it at £6billion to £7billion.
The company is the world’s largest producer of natural soda ash which is used to make glass, detergents and soaps and batteries for electric vehicles.
The decision to list in the UK comes after snubs, including by Cambridge chipmaker Arm whose Japanese owner Softbank opted for New York.
Duo: WE Soda, which has headquarters in Lonson is owned by the Turkish billionaire Ciner family, headed by Turgay Ciner, 67. His wife, 43-year-old Didem (pictured)
WE Soda, which has headquarters in London, is owned by the Turkish billionaire Ciner family, headed by Turgay Ciner, 67.
His wife, 43-year-old Didem, is chairman, while City grandee Alasdair Warren is chief executive.
The float would be London’s biggest since GSK demerged its consumer health arm Haleon last year.
The initial public offering expects to raise up to £645million and is one of the first where retail investors may have a chance to buy in before listing, with up to £7million shares sold through the Primary Bid platform.
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