LONDON, May 31 Reuters WE Soda, the world39;s largest producer of natural soda ash, said on Wednesday it planned to list shares on the London stock exchange, in a boost for Britain39;s flagging initial public offering IPO market.

The UKbased company, which produces soda ash for a variety of uses including glass manufacturing, is considering applying for admission to trade on the premium segment of the London Stock Exchange LSE.

It did not provide details on the price and size of the offering but said this would include existing shares held by Turkish industrial conglomerate Ciner Group representing at least 10 of its share capital.

Press reports have pointed to a potential valuation for the company of up to 8.5 billion.

The group is working with JPMorgan, BNP Paribas, Goldman Sachs, Morgan Stanley, Deutsche Bank, Liberum, MUFG and Numis on the potential transaction.

WE Soda39;s plan comes at a quiet time for European IPOs, after soaring interest rates and economic uncertainty nearly froze the market last year.

There has also been debate about London39;s attractiveness as a listing venue following Britain39;s departure from the European Union and some highprofile defections by domestic or locally listed companies to stock exchanges abroad, including Cambridgebased chipmaker Arm.

Though proceeds raised in London IPOs fell 90 last year, according to research by consultancy EY, the British capital has seen some activity in recent months.

Earlier in May, Admiral…