Europe’s biggest IPO since 2022 was confirmed on Monday as private equity titan CVC said it would list in Amsterdam with a value estimated at €15 billion.
Best known in the UK for Lipton Teas, posh watchmaker Breitling and a backer of Rugby Six Nations, the group is expected to raise around €1.25 billion in new money.
London was never in the hunt to be the home for the Luxembourg-based business, but the fact that it is going ahead after several false starts will raise hopes in stock markets generally that the IPO drought might be coming to an end.
CVC adds to a string of decent-sized listings this year in Europe including Swiss skincare firm Galderma (€13 billion valuation), Athens International Airport and German perfumes group Douglas.
Spanish beauty and fragrance group Puig Brands also said recently it plans to go ahead with its IPO.
CVC has around €186 billion of assets under its control.