WE Soda Seeks a Rare UK IPO With $7.5 Billion Valuation
- WE Soda holder Ciner Group plans to sell shares in the IPO
- At least 10% of the company’s share capital will be listed
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WE Soda, the world’s largest producer of natural soda ash, unveiled plans for a listing on London’s main bourse, injecting life into a market that has been struggling to attract new listings.
The company’s controlling shareholder, Turkish industrial conglomerate Ciner Group, will sell shares in the initial public offering, according to a statement. At least 10% of the share capital will be available for trading, in line with new London listing rules.