The London Stock Exchange saw £1.9bn raised from 11 IPOs this year, marking its strongest year since 2021.
The fourth quarter played a strong part in this, with £1.3bn raised in Q4 alone.
This flurry of activity saw fintech company Shawbrook and consumer company Princes Group pricing their IPOs at the end of October for £348m and £400m respectively.
Other equity market activity saw the demergers of global mining company Valterra Platinum and Magnum Ice Cream Company, new listings of Metlen Energy & Metals and AIM to main market move-ups, rights issues and Special Purpose Acquisition Company transactions all contributing to the rebound in London’s equity markets.
The three-year stamp duty holiday on shares in new UK IPOs announced in the chancellor’s budget last month, is widely seen as a positive step aimed at boosting the London IPO market.
“Global multi-billion-pound companies selected the London Stock Exchange for their international listings in 2025, the largest of which had a market capitalisation of £16bn in December 2025,” said Vhernie Manickavasagar, UK IPO leader at PwC UK. “These developments underscore the resurgence of London’s capital markets and its returning appeal as a leading listing destination.”
Going forward, Manickavasagar added: “Looking ahead, momentum is set to continue into 2026, with a robust pipeline of large-cap IPOs expected across the consumer, financial services and technology, media and telecommunication sectors.”
Comments