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City ministers and figures are hoping to convince Unilever to list its London ice cream business.
The maker of brands including Marmite and Dove this week pitted London against Amsterdam and New York as potential sites for a new public company.
Its ice cream business, estimated to be worth £15 billion, would be a valuable asset on the London Stock Exchange.
Treasury sources said the government would like the makers of Ben & Jerry’s and Wall’s to list in London alongside parent company Unilever.
But it remains to be seen whether ministers will roll out the red carpet as they did during their failed attempt to win over chipmaker Arm, which opted for New York, as did building materials supplier CRH and the plumber Ferguson.
Listing: Treasury sources said the government would like ice cream maker Ben & Jerry’s and Wall’s to list in London alongside parent company Unilever.
Unilever boss Hein Schumacher said he was “open to options”. His company makes a large portion of its ice cream sales in the United States while its headquarters are in the Netherlands.
City Minister Bim Afolami said: “We have drawn up reforms to strengthen the UK as a destination for IPOs… the Government does not comment on individual companies, it is up to the companies to decide where to register. »
It would be “very strange” if Unilever chose another stock market, a senior City figure has said.
But some fear the ice cream sector could fall prey to private equity, with Direct Line and Currys among recent targets. A London listing would be a vote of confidence.
Danni Hewson, at AJ Bell, said: “Unilever has long been listed in the UK but has had a torrid time over the past two years.
“It didn’t give investors what they wanted.
“It has lost value and market share. Because of this bumpy ride, there will be a lot of speculation that it would be wise to look elsewhere.
“A spin-off like this would be exactly the kind of business that UK investors would understand and support.
Any headline-grabbing announcement like this should be good for London, if it can get the listing.
“If that’s not possible, it would cause even more damage.” Confidence in London has really been eroded, it needs a victory.
Pru man: we will keep the London list
Prudence chief executive Anil Wadhwani said he had no plans to leave the London stock exchange.
The boss of insurance giant Prudential has said he has no plans to leave the London stock exchange.
Chief executive Anil Wadhwani dismissed speculation the FTSE 100 business could leave town.
Prudential is listed in London and Hong Kong, but all its operations are in Asia and Africa following the spin-off of its UK arm in 2019.
Several companies have left the London Stock Exchange after being bought out or by moving their listing.
And London was snubbed last year when Cambridge chip designer Arm decided to set up shop in New York.
Wadhwani, who took over in February last year, said: “Listing is not a priority – what is a priority for us is improving operational performance.”
Prudential was founded in 1848 to sell loans, but today sells insurance and asset management services in Asia and Africa.
The company yesterday announced operating profits of £2.28 billion for 2023, an increase of 6% on the previous year.
And London was snubbed last year when Cambridge chip designer Arm decided to set up shop in New York.
Wadhwani, who took over in February last year, said: “Listing is not a priority – what is a priority for us is improving operational performance.”
Prudential was founded in 1848 to sell loans, but today sells insurance and asset management services.
The company yesterday announced operating profits of £2.3 billion for 2023, an increase of 6% on the previous year.