New Princes targets autumn London IPO

A potential £700m London listing by New Princes could signal a fresh wave of floats as the City weighs policy support and investor appetite.

London IPO revival hinges on New Princes listing

New Princes, the Italian owned group behind Princes Tuna and Napolina, is sounding out investors about an autumn London listing of its food arm. The deal would value the unit at at least £700m and would carve a new listed entity from the parent company, already listed in Milan after a 2023 rebrand. Advisers Peel Hunt and BNP Paribas are reported to be involved, and the move would mark the third listed arm for New Princes after its Milan listings.

The broader London market is watching whether a quiet period of listing activity can resume before year end. Several potential floats are said to be preparing for the autumn window, including Shawbrook, The Beauty Tech Group and Loveholidays. Government involvement via a listing taskforce led by the Treasury suggests policy support for reviving IPOs, though pricing and investor demand will determine how many deals actually proceed. Other names in market chatter include Visma, Zilch and Thought Machine, with expectations that 2026 could be a more active year for listings than 2025.

The piece shows a city trying to regain momentum after years of muted IPO activity. Policy signals from the listing taskforce indicate a political willingness to back market growth, but timing remains precarious as investors weigh valuations in a volatile global environment. New Princes’ plan to split off its food arm mirrors a trend of value unlocking through structural moves, not just price. For investors, the window is as much about due diligence and pricing discipline as it is about appetite for consumer brands tied to food staples.

Ultimately, the story is less about a single listing and more about whether London can sustain a steady rhythm of float activity. If the autumn window falters, the market may default to a cautious stance into 2026, even as some high-profile names prepare to court capital. The balance of private equity ownership, brand breadth, and cross-border listing dynamics will shape how aggressive or restrained this revival proves to be.

Highlights

Markets move in steps, not leaps, and this rally will depend on steady nerves and clear pricing.