{"id":2445,"date":"2023-06-01T00:32:15","date_gmt":"2023-06-01T00:32:15","guid":{"rendered":"https:\/\/latestnews.top\/2023\/06\/01\/turkish-delight-for-london-as-tycoon-plots-blockbuster-float\/"},"modified":"2023-06-01T00:32:15","modified_gmt":"2023-06-01T00:32:15","slug":"turkish-delight-for-london-as-tycoon-plots-blockbuster-float","status":"publish","type":"post","link":"https:\/\/latestnews.top\/turkish-delight-for-london-as-tycoon-plots-blockbuster-float\/","title":{"rendered":"Turkish delight for London as tycoon plots blockbuster float"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"js-article-text\" wp_automatic_readability=\"70.830188679245\">\n<h2>Turkish delight for London as Ciner family plots blockbuster float of chemicals producer WE Soda<\/h2>\n<ul class=\"mol-bullets-with-font\">\n<li class=\"class\"><strong>WE Soda is owned by the Turkish billionaire Ciner family<\/strong><\/li>\n<li class=\"class\"><strong>It is eyeing a valuation of up to \u00a37bn and would qualify to enter the FTSE 100<\/strong><\/li>\n<li class=\"class\"><strong>It\u00a0produces natural soda ash, used in glass manufacturing, detergents and soaps\u00a0<\/strong><\/li>\n<\/ul>\n<p class=\"author-section byline-plain\">By <a target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/home\/search.html?s=&#038;authornamef=Emily+Hawkins+For+The+Daily+Mail\" class=\"author\" rel=\"noopener\">Emily Hawkins For The Daily Mail<\/a> <\/p>\n<p class=\"byline-section\"><span class=\"article-timestamp article-timestamp-updated\"> <span class=\"article-timestamp-label\">Updated:<\/span> <time datetime=\"2023-05-31T22:39:06+0100\"> 17:39 EDT, 31 May 2023 <\/time> <\/span> <\/p>\n<p> <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/money\/moneymarkets\/article\/other\/para_top.html --> <!-- CWV --><!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-async-bundle\/6.52.3\/articleDefer.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--> <!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/registration--.css\" media=\"screen\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/registration--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all1-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-sync-bundle\/8.32.0\/desktop.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/all--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/all1--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if gte IE 8]><!--> <link rel=\"stylesheet\" type=\"text\/css\" media=\"screen\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-fff\/2.4.1\/styles\/fff.css\" \/> <!--<![endif]-->  <!--[if IE 8]>\n\n<![endif]--> <!--[if IE 9]>\n\n<![endif]--> <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->  <!--<![endif]--><\/p>\n<p>   <!-- SiteCatalyst code version: H.20.3.\n    Copyright 1997-2009 Omniture, Inc. More info available at\n    http:\/\/www.omniture.com -->  <\/p>\n<p>         <!-- End SiteCatalyst code version: H.20.3. -->  <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->   <!--<![endif]--><!--[if IE]>\n  \n  <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/gunther-2159\/video_bundle--.css\"><\/noscript>\n  \n<![endif]--> <!--[if !IE]> --> <link rel=\"preload\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/6.21.1\/styles\/mol-fe-videoplayer.min.css\" as=\"style\" onload=\"this.rel=\" stylesheet=\"\" \/> <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/6.21.1\/styles\/mol-fe-videoplayer.min.css\" \/><\/noscript>  <!-- <![endif]-->   <!-- CWV --><\/p>\n<div itemprop=\"articleBody\" wp_automatic_readability=\"47.893390191898\">\n<p class=\"mol-para-with-font\">A chemicals producer owned by the Turkish billionaire Ciner family is planning London&#8217;s first blockbuster float this year, in a boost for the under-fire stock market.<\/p>\n<p class=\"mol-para-with-font\">WE Soda&#8217;s decision is a sorely needed shot in the arm after a slew of companies have snubbed the City in favour of private equity ownership or floating in New York instead.<\/p>\n<p class=\"mol-para-with-font\">WE Soda&#8217;s headquarters are in London but it operates in Turkey and Wyoming, USA, where it produces natural soda ash, used in glass manufacturing, detergents and soaps, plus batteries for electric vehicles.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\" wp_automatic_readability=\"7\">\n<div class=\"mol-img\" style=\"height: auto;\">\n<div class=\"image-wrap\"> <img fetchpriority=\"high\" decoding=\"async\" id=\"i-a5e576d67a09840b\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/05\/31\/21\/71625781-12145653-image-m-39_1685564906825.jpg\" height=\"531\" width=\"634\" alt=\"Family fortunes: Turgay Ciner and his wife Didem\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/> <\/div>\n<p> <noscript> <img decoding=\"async\" id=\"i-a5e576d67a09840b\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/05\/31\/21\/71625781-12145653-image-m-39_1685564906825.jpg\" height=\"531\" width=\"634\" alt=\"Family fortunes: Turgay Ciner and his wife Didem\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">Family fortunes: Turgay Ciner and his wife Didem\u00a0<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">The company is eyeing a valuation of up to \u00a37billion and would qualify to enter the FTSE 100 index.\u00a0<\/p>\n<p class=\"mol-para-with-font\">The Ciner family own an industrial and media empire under WE Soda parent company Ciner Group, headed by billionaire 67-year-old Turgay Ciner, who owns a home in London.<\/p>\n<p class=\"mol-para-with-font\">WE Soda is chaired by his wife, 43-year-old Didem, and its chief executive is City grandee Alasdair Warren, who has held top jobs at both Deutsche Bank and Goldman Sachs.<\/p>\n<p class=\"mol-para-with-font\">Its float would be the UK&#8217;s biggest since GSK&#8217;s demerger of its consumer health arm Haleon last July.<\/p>\n<p class=\"mol-para-with-font\">&#8216;Despite the challenging market backdrop, we&#8217;re confident of a successful listing&#8217;, WE Soda chief strategy and risk officer Nicholas Hall said.\u00a0<\/p>\n<p class=\"mol-para-with-font\">He added: &#8216;The FTSE 100 is associated with quality and prestige, and given that history, it seems the right place to list.&#8217;<\/p>\n<p class=\"mol-para-with-font\">A listing would be a much-needed boost for London. Cambridge chipmaker <a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12031339\/Arm-files-listing-drive-raise-8bn-funding.html\" rel=\"noopener\">Arm opted for a US float<\/a> and building materials giant <a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12015603\/CRH-doubles-plan-list-New-York-London.html\" rel=\"noopener\">CRH plans to switch its listing<\/a>, on the London market since 2011, to New York.<\/p>\n<p class=\"mol-para-with-font\">City watchdog the Financial Conduct Authority has pledged to &#8216;reform and streamline&#8217; requirements for firms who want to list.<\/p>\n<p class=\"mol-para-with-font\">&#8216;By describing the FTSE 100 as being associated with quality and prestige, it has provided a ray of light for London&#8217; said Susannah Streeter, at Hargreaves Lansdown said.<\/p>\n<p class=\"mol-para-with-font\">&#8216;It&#8217;s still unlikely to lead to a flood of immediate listings due to the still volatile nature of market sentiment.&#8217;<\/p>\n<\/div>\n<p>            <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/money\/moneymarkets\/article\/other\/inread_player.html --><\/p>\n<div class=\"column-content cleared\">\n<div class=\"shareArticles\">\n<h3 class=\"social-links-title\">Share or comment on this article: <\/h3>\n<\/p><\/div><\/div>\n<p class=\"mol-style-italic byline-section justify\">Some links in this article may be affiliate links. 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We do not allow any commercial relationship to affect our editorial independence.<\/p>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-tim-tools\/2.1.3\/main.css\" rel=\"stylesheet\" \/>\n<section data-mol-fe-tim-tools=\"\" data-track-module=\"mol-fe-tim-tools^tim-tools-dropdown\">\n<div class=\"drop-down-links-container\">\n      <span class=\"popular-toggle-sections-label\">POPULAR MONEY SECTIONS<\/span><br \/>\n      <button class=\"toggle-drop-down\" type=\"button\">Take me to\u2026<\/button><\/p><\/div>\n<\/section>\n<p>            <ad-slot position=\"smart_feed\"><\/ad-slot><\/p>\n<p>            <ad-slot position=\"after_article\"><\/ad-slot><\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12145653\/Turkish-delight-London-tycoon-plots-blockbuster-float.html?ns_mchannel=rss&#038;ns_campaign=1490&#038;ito=1490\" target=\"_blank\" rel=\"noopener\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Turkish delight for London as Ciner family plots blockbuster float of chemicals producer WE Soda WE Soda is owned by the Turkish billionaire Ciner family It is eyeing a valuation of up to \u00a37bn and would qualify to enter the FTSE 100 It\u00a0produces natural soda ash, used in glass manufacturing, detergents and soaps\u00a0 By Emily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[5069,23,5067,5070,25,421,427,3890,3515,5068],"acf":{"source_article":"","image_credit":""},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts\/2445"}],"collection":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/comments?post=2445"}],"version-history":[{"count":0,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/posts\/2445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/media\/2446"}],"wp:attachment":[{"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/media?parent=2445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/categories?post=2445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/latestnews.top\/wp-json\/wp\/v2\/tags?post=2445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}