Princes Group’s London IPO raises £420 million but opens flat

Princes Group PLC listed on the London Stock Exchange with a £1.16 billion valuation after raising £420 million in its IPO. Shares opened near issue price of 475p and slipped 1% by mid-session, reflecting subdued investor sentiment toward UK consumer IPOs. The food and packaged goods firm plans to use proceeds for European acquisitions and operational upgrades. Analysts said the debut underscores continued caution in London listings despite government reforms aimed at revitalizing primary markets post-Brexit.