Canned Tuna Firm Princes Closes Flat in Tepid London Debut (3)

Princes Group Plc shares closed unchanged on their debut in London after the maker of canned tuna raised £400 million ($526 million) in an initial public offering.

The stock was in the red for most of the day, trading as low as 470 pence per share, before a late rally lifted the stock to the offer price of 475 pence. The subsidiary of Milan-listed NewPrinces SpA currently has a market capitalization of £1.16 billion.

Princes is among a handful of companies testing the UK’s market after a drought of offerings pushed London out of the top 20 global IPO venues ...