- 40% more new money raised on average than same period last year despite fewer floats
- Combined market valuation up 40% in the same period
Equiniti reveals that although Q1 2018 seemed to see a slowdown in the IPO market following 2017's listings bonanza, the floats that did go ahead raised more money on average and added significantly more market value to the exchange.
Analysis of IPO activity in Q1 2018 shows that there were 8 Main Market IPOs in the first three months of the year raising £733m of new capital. This is down on the 14 floats in 2017 that raised £905m of new money, but shows an increase on the average size of new offerings and a significant increase in the combined market cap of the new companies listing on the LSE.
The quarter’s largest IPO, IntergraFin Holdings, listed with a market cap of £878m more than double the size of 2017’s largest, BioPharma Credit.
Commenting on the quarter’s activity, Paul Matthews, EQ Boardroom Chief Executive Officer, Equiniti said:
“Last year showed that the London IPO market had shaken off the uncertainty caused by Brexit and a solid Q1 shows that investor confidence has remained into 2018. London is home to a significant amount of investor capital and looks set to continue to attract the biggest and best floats in Europe.
“We have a proud record of helping float the biggest companies on the London Stock Exchange and I am delighted that the largest company that listed in Q1 2018 was an Equiniti client.”
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Notes to Editor:
London Stock Exchange – New and Further Issues: http://www.londonstockexchange.com/statistics/new-issues-further-issues/new-issues-further-issues.htm
Equiniti is a specialist outsourcer delivering technology-enabled solutions to some of the best-known brands and public-sector organisations in the UK, including c.70 of the companies in the FTSE 100.
It is the UK’s leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes.
Equiniti’s services, which are delivered by over 4,300 employees, benefit 28 million people in the UK and 120 countries around the world.