Modelling A.I. in Economics

WE Soda Takes the London Stock Exchange by Storm

WE Soda, the world's largest producer of soda ash, said on Wednesday it expects to list its shares on London's main bourse, defying concerns about a global stock market sell-off.

The company, which is owned by Chinese conglomerate CITIC Group, plans to sell 250 million shares at a price range of 100-120 pence each, valuing the business at up to 2.5 billion pounds ($3.1 billion).

The IPO would be the first major listing on the London Stock Exchange since the start of the year, and comes at a time when global markets have been volatile due to concerns about rising inflation and interest rates.

However, WE Soda said it was confident that the IPO would be successful, citing strong demand for its products and its leading position in the global soda ash market.

"We are excited to be bringing WE Soda to the London Stock Exchange," said CEO David Zhang. "This is a major milestone for our company and we believe it will provide us with the resources to continue to grow our business and meet the needs of our customers."

Soda ash is a key ingredient in a wide range of products, including glass, detergents, and paper. The global market for soda ash is expected to grow at a compound annual growth rate of 3.5% over the next five years, driven by rising demand from emerging markets.

WE Soda has a production capacity of 1.5 million tonnes of soda ash per year, making it the world's largest producer. The company's plants are located in China, Russia, and the United States.

The IPO is expected to be completed in the second half of 2023.

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