Two more join IPO rush

LonDon’s iPo market remains red hot after two companies confirmed plans to float.

Rubix, which supplies mechanical parts to some of europe’s biggest factories, will be the largest industrial float in a decade when it comes to market with a valuation of £2.5bn.

owned by private equity group Advent, Rubix supplies components to plants run by companies including nestle, Coca-Cola and Procter & Gamble. Radiator manufacturer stelrad also said its £350m London float will go ahead next month.

iPos have raised more than £14bn in London so far in 2021, according to Bloomberg. Floats included Deliveroo, Darktrace and Pensionbee.