The news follows the announcement made last week of its price range for the offer, which was set at 475p to 590p per Ordinary Share.
The offer price has now been set right at the very bottom of that range, equating to a market capitalisation of approximately £1,162 billion.
The offer includes around 84 million new Ordinary Shares raising around £400 million which will support further growth via acquisitions.
Angelo Mastrolia, executive chair of Princes Group said the business has identified “a strong pipeline of potential acquisitions” which it can pursue “in a short timeframe”.
Commenting on the decision to list in London, he said this is a natural step for the group.
He added: “Around 70% of our revenues come from the UK, which remains our largest and most dynamic market.”
“London offers deep liquidity, a world-class regulatory environment, and access to a broad international investor base, making it the ideal home for our next stage of growth.”
Business and trade secretary Peter Kyle, who joined Princes Group at the LSE for its market debut, described the move as a ‘Great British success story’ and called for more firms to follow in their footsteps.
London remains the first listing choice for UK and international companies, with 91% of UK-incorporated public company IPOs listing in the UK between 2017 and 2022.
The city is also the leading hub for global capital and the largest equity capital market in Europe, consistently ranking among the world’s top exchanges and outperforming all other European centres every year for the past two decades.
Following admission (officially joining the stock exchange), the company’s issued share capital will be 245 million Ordinary Shares.
Around 2.9 million Ordinary Shares will be issued to retail investors, raising around £14 million.
If the company opts to sell additional shares (over-allotment), the total proceeds raised are set to be £420 million.
The company’s major shareholder, NewPrinces, has subscribed for around £200 million worth of Ordinary Shares. Newlat Group meanwhile, has subscribed for £54.7 million.
As a result, there is expected to be a free float of 13%.
Commenting, Simon Harrison, CEO of Princes Group, said: “Today marks a defining moment in Princes Group’s journey as we proudly begin our chapter as a publicly listed company. This milestone is a testament to the strength of our brands, the dedication of our people, and the trust placed in us by customers and partners across the globe.
“For nearly 150 years, Princes has been a name synonymous with quality, value, and innovation in food and drink. Our listing on the London Stock Exchange reflects not only our heritage but also our ambition for future growth.
As we look ahead, we remain focused on expanding our international footprint, deepening our category leadership, and delivering sustainable, long-term value for all our stakeholders. I’m incredibly proud of what we’ve achieved and even more excited about what lies ahead for Princes Group as we continue to shape the future of food.”
