WE Soda, the world's largest producer of natural soda ash, has confirmed plans to list in London, citing "considerable interest" from potential investors.
The company, currently under the control of Turkish conglomerate Ciner Group, is aiming for a valuation of £6bn, a figure that would secure it a spot in the FTSE 100.
Once complete, it would be the UK's biggest float of the year, with 2023 proving a low watermark for London IPOs.
WE Soda is also swimming against the tide somewhat with companies eyeing US listings ahead of the UK as they seek higher valuations and deeper pools of investment capital.
Earlier this year, building materials group CRH said it would be moving its main share listing from the UK to the US, while microchip designer Arm Holdings is to float in the US despite reports that the UK government had lobbied it to choose London.