Taylor Maritime Investments has announced plans to float on the London Stock Exchange in an initial public offering (IPO) looking to raise $250m.

The target issue is made up of 250 million new ordinary shares at an initial issue price of $1 per share.

The new trust, which was incorporated in Guernsey on 31 March, will invest in a diversified portfolio of vessels, primarily second-hand geared ships.

According to the firm, “these vessels have historically demonstrated average yields in excess of 7% per annum and are capable of being acquired at valuations that are expected to be below long-term average prices”.

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France is threatening to block regulations that would allow U.K. financial firms to do business in the European Union if the country doesn’t respect its Brexit commitments on fishing.

“The U.K. must deliver licenses, authorization to access their waters for fishing, that’s the deal,” French Junior Minister for European Affairs Clement Beaune told BFM Business TV Tuesday.

If the U.K. doesn’t provide access to its waters to the fishing industry as per the Brexit deal, Beaune said “retaliation measures” will be adopted in other sectors, including “financial services.”

As long as commitments aren’t met on fishing, “we will give none,” said Beaune. “It is quid pro quo.”