NAVF Plc. (Nippon Active Value Fund) (NAVF) is set to fire the starting gun on a £200 million listing on 07 January 2020 in what could be London's first initial public offering (IPO) of 2020. It is set to file its intention to float on 07 January 2020, seeking admission of its shares to trading on the specialist fund segment of the London Stock Exchange.

NAVF is seeking to raise up to £200 million at an issue price of 100 pence per share. The news will be welcomed by the City after a grim year for listings in 2019. Shore Capital Group Limited (BER:SGR.BH) is acting as financial adviser and sole book runner on the listing.

It has appointed Rising Sun Management Ltd. as investment adviser.