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Talk of a revival in the Square Mile was amplified today after computer-maker Raspberry Pi set out its plans for a £157m float next week and reports emerged that the Chinese-founded fast-fashion giant Shein was set to file an IPO prospectus with the Financial Conduct Authority.
Raspberry Pi’s listing next week is expected to fetch the company a price tag of about £500m and could be a boon to the London Stock Exchange, which has been starved of new tech listings in recent years.
Speaking ahead of its float plans last year, Raspberry Pi chief and founder Eben Upton said there was “smart money” in the City and he had opted to U-turn on his initial plans to list the company in New York, bucking a trend that has plagued the capital’s bourse in recent years.
While Shein’s potential IPO has divided opinion due to its perceived ties to China and concerns over its labour practices, analysts and investors are hoping it could trigger a wave of interest from bigger companies.
“The reforms that we have been making to the UK markets are working,” Mark Austin, a partner at Latham & Watkins who has led much of the City’s reform efforts, told City A.M.
“The friction points have been removed and issuers and investors are listening and taking note. And that is reflected in the growing pipeline of IPOs of companies from a range of sectors that are being lined up for the London markets.”
Nigerian mining firm Dangote is also aiming for a dual listing on the London and Lagos bourses, a senior executive said last week....
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