London witnessed a record number of IPOs in 2021 with 121 listings, the highest since 2007, raising total funds of GBP16.3 billion, according to EY’s latest market tracker, IPO Eye.
The main market continued to see a significant flow of IPOs in Q4, with 17 IPOs raising GBP1.9 billion, surpassing the 15 IPOs in Q3, although Q3 proceeds were higher at GBP2.9 billion. The Alternative Investment Market (AIM) also saw activity with a further 29 IPOs in the final quarter of the year raising GBP1 billion. This brings total funds raised through IPOs in Q4 on both markets to GBP2.9 billion.
The financial services, real estate and software sectors contributed the largest IPOs in the quarter, with Pantheon Infrastructure, Life Science REIT and Softline Holdings all raising GBP0.3 billion to GBP0.4 billion from their respective IPOs.
Follow-on activity reduced slightly in Q4 with existing issuers raising circa GBP6.5 billion, bringing the annual total to over GBP32.7 billion, with the money raised from rights issues declining from the peaks seen in 2020 and early 2021.
