Italy's NewPrinces tumbles on lower London IPO target for Princes unit

Newprinces SpA

22/10/2025 11:22

** Shares in Italy's NewPrinces NWLF.MI drop 16% after the group said  on wednesday it aims at a valuation of up to 1.2 billion pounds ($1.61 billion) for the London debut of its unit Princes Group

** The valuation of the Liverpool-based company, owner of brands Princes Tuna, Napolina Pasta and Naked Noodle, is lower than the initial 1.5 billion pounds expectation

** Princes Group's enterprise value to EBITDA ratio would be in a range of 3.9-4.4 times its 2026 EV/EBITDA, considering the new IPO target, brokerage Equita says

** The ratio is lower than the 5.9 multiple implied in the  target price of 31 euros per share, it adds

** "We believe that, once listed, Princes could deserve higher multiples, at least in line with those included in our valuation", Equita notes

** Including Wednesday's fall, stock up 66.8% YTD

($1 = 0.7451 pounds)

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@tr.com))