31st Dec 2025 05:17
(Alliance News) - London's stock markets have staged a rebound with a late spurt in activity driving the strongest year for listings since 2021, data shows.
Momentum across the global market is set to progress into 2026, according to experts.
There were 11 new listings, known as initial public offerings, on the London Stock Exchange in 2025, analysis from PwC shows.
The data only includes transactions where a minimum of USD5.0 million has been raised, and does not count listed firms moving up from the AIM to the Main Market.
The IPOs raised GBP1.9 billion in total proceeds, making it the strongest year since 2021 when GBP16.8 billion was raised in a record year for the London Stock Exchange.
It is also more than double GBP700 million raised last year.
A late flurry of IPOs helped deliver a boost to the market with GBP1.3 billion of the total proceeds raised during the final quarter of the year, marking a shift following a dearth in activity.
IPO activity gained momentum over the final months of the year, which saw the flotations of tinned tuna maker Princes Group PLC and small business lender Shawbrook Group PLC on the main market.
Princes raised about GBP400 million from its listing, giving the 150-year-old firm a valuation of GBP1.16 billion, while Shawbrook raised GBP348 million and clinching a GBP1.92 billion valuation.
Other notable flotations included Texas-based Fermi Inc, which develops electric grids, and Beauty Tech Group PLC which owns beauty gadget brands used by the likes of Kim Kardashian and Serena Williams.
Vhernie Manickavasagar, the UK's IPO leader at PwC UK, said: "London has delivered its strongest year for IPO and listing activity since 2021.
"In addition, 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 GBP16 billion in December 2025.
"These developments underscore the resurgence of London's capital markets and its returning appeal as a leading listing destination.
"Looking ahead, momentum is set to continue into 2026, with a robust pipeline of large-cap IPOs expected across the consumer, financial services and TMT (technology, media and telecoms) sectors."
Around the world, proceeds totalled USD143.3 billion from 1,014 IPOs over 2025 – about a fifth more than in 2024, according to PwC's analysis.
The biggest of the year was the USD6.3 billion blockbuster IPO of medical supplies firm Medline Inc which had its Wall Street debut earlier this month.
In terms of sectors, financial services led the charge with the biggest proportion of proceeds raised globally.
Momentum in the IPO market comes as the UK has been introducing new measures to help revive the London market after a prolonged drought in activity.
This includes a three-year, stamp duty holiday on shares bought in new UK flotations to help London compete for IPOs on an international stage.
source: PA
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