Activist investor Brian Myerson is set to return to the London Stock Exchange after a 16-year ban, aiming to launch a new defence company called ICENiX. The South African, who led Active Value in the 1990s and early 2000s, intends to list the venture on the LSE. Myerson plans to raise between £500 million and £1 billion over the next 12-18 months to build what he calls the 'Anduril of the UK', targeting sovereign defence capabilities.

He will act as chair and cornerstone investor for the company, which will operate across digital integration, critical raw materials, AI, and autonomous systems.