WE Soda cancels London IPO due to 'extreme investor caution'

'Fresh blow' for London

Natural ash soda producer WE Soda has cancelled its intention to list on the London Stock Exchange in a regulatory filing today (June 14).

The company had set out plans to IPO in London in early June after being "encouraged by the breadth of investor engagement globally and the subsequent interest from prospective investors", as noted by Alasdair Warren, WE Soda CEO. "Despite this, the reality is that investors, particularly in the UK, remain extremely cautious about the IPO market and this extreme investor caution in London meant that we were unable to arrive at a valuation that we believe reflects our unique financial and operating characteristics."  Incoming BoE rate setter Greene warns high inflation will be hard to ...