Soda ash producer WE Soda plans £7bn London float

Jul 15, 2023

The world's largest producer of natural soda ash, better known in Britain as sodium carbonate or washing soda, is set to float on the London Stock Exchange in a move that in due course would earn it a place in the FTSE 100.

London's largest initial public offering this year comes at a time of growing concern that the City is becoming less attractive to international investors.

WE Soda, an extractor of soda ash in Turkey and the United States, is a subsidiary of Ciner Group, an industrial and media conglomerate controlled by Turgay Ciner, 67, a UK-domiciled Turkish billionaire. The company, chaired by Ciner's wife, Didem, 42, has signalled its intention to float and new shares in it could be trading by July.