The London Tunnels set to become UK's first IPO of 2024

Flotation expected in January

The London Tunnels (TLT) has shared it intention to float on the London Stock Exchange, making it London’s first IPO of 2024, if the plans go ahead.

In a stock exchange filing today (12 January) the company said it intends to seek admission to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Deep Dive: Can the UK be an IPO hub? It expects the IPO to take place in January 2024, with a market capitalisation of £123m on admission. TLT added, it will commence post-admission placing for up to £30m at £2 per share, after having already raised £10m. The London Tunnels plans to restore, reuse and bring back to life the Kingsway Exchange Tunnels in central London, which were bu...