Good morning from the City AM liveblog team.
The London listings revival is gathering pace as prize draw operator Winvia today confirmed plans for an initial public offering (IPO) in the capital.
The Omaze rival is set to list on London’s junior AIM market, seeking to raise around £40m from the sale of new shares at an expected valuation of around £200m.
Winvia is the second largest prize draw operator in the UK by market share, according to government figures, and offers prizes such as cars, luxury watches, holidays, gadgets and properties via its Click and Best of the Best prize draw brands.
The company said it was “already in discussions with several potential acquisition targets.”
The plans add Winvia to a growing list of businesses that have confirmed plans to float in London since the beginning of October, following in the footsteps of the likes of tinned ham business Princes and London-based bank Shawbrook.
It comes after a prolonged IPO drought in London that saw the capital fall out of the top 20 for listings venues worldwide.
Here’s a summary of our top headlines from yesterday:
L&G: FTSE 100 giant reveals £2bn plan to create 24,000 jobs
B&M shares tumble as CFO quits after huge accounting blunder
Secure Trust Bank, Bank of Ireland up motor finance provisions
Plus500 boss: Scrapping shares tax would boost market efficiency
Hundreds of jobs at risk as Pizza Hut UK dine-in arm goes into administration
Vape giant Supreme buys Slimfast in £20m deal