London IPOS reach three-year peak of £15bn

THE amount of money raised by companies floating on the London Stock Exchange hit a three-year high this year as businesses from across the world flocked to the capital.

Around £15bn was raised by 106 initial public offerings (IPOS) this year, 164pc higher by value than the previous year and surpassing all other European exchanges. Allied Irish Banks, Ten Entertainment Group and Russian power producer and metals company En+ all announced floats this year.

London’s IPOS have also become more international, with nine of the top 10 by size coming from outside of the UK. It has also been a strong year for investment vehicle IPOS, with 35 on the exchange, more than anywhere else in the world and with 677pc more money having been raised in these floats compared to 2016. London’s junior market Aim welcomed 49 new companies, raising £2.1bn, a 97pc increase by money raised.

Nikhil Rathi, chief executive of London Stock Exchange, said: “Despite the debates about Brexit, London’s highly global, deep and liquid capital markets continue to be the ideal partner for funding the world’s growth.”