The firm says 'extreme investor caution' meant it could not achieve its valuation goal.
The world's largest producer of natural soda ash has scrapped plans to sell shares on the London Stock Exchange less than two weeks after announcing the move.However, the company said UK investors "remain extremely cautious" and We Soda was unable to reach a fair valuation.Just two weeks ago, the firm's chief executive, Alasdair Warren, declared "London still works", and said that the London market would "well understand our business".
We Soda's flotation would have been the UK's largest so far this year and the company would have entered the blue chip FTSE 100 index. Mr Warren said companies usually accept that there will be a discount on the price for shares during initial public offerings .
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