TI Fluid Systems wants to raise £380m selling 25% of the company to investors
A car parts maker has revived plans to join the stock market in London having abandoned an earlier flotation bid following the Brexit vote.
TI Fluid Systems, which makes fuel tanks and brakes, said it wants to raise around £380million selling 25 per cent of the company to investors – valuing it at just over £1.5billion.
The move is a major vote of confidence in the City – underling London’s enduring appeal even after the vote to leave the European Union.
The City is now preparing for a flurry of deals in the coming months – triggering a fees bonanza for bankers and other advisers.
Last week, £1.4billion Dutch finance firm TMF outlined plans to float in London and shift its headquarters from Amsterdam to the capital.
And Russian billionaire Oleg Deripaska announced his intention to float energy company EN+ in London and Moscow, raising £1.1billion.
London Stock Exchange bosses are still hoping to bring in the biggest deal of all, Saudi state oil firm Aramco, which is valued at £1.6trillion.