- Almost 40 per cent of capital raised by tech firms
- 20 per cent raised by investment trusts
London’s stock exchange had its strongest year for IPO fundraisings since 2007, as companies making market debuts raised £16.8bn. More than 120 companies listed, the most since 2014 and the highest of any exchange outside the US and Greater China, London Stock Exchange Group (LSEG) said in a blog post.
Technology companies raised almost 40 per cent of the total proceeds, with major listings including online money transfer company Wise (WISE), cyber security company Darktrace (DARK) and customer reviews platform Trustpilot (TRST).
Wise was the largest debut by market cap for a technology company and the biggest direct listing to take place on the exchange. The company was valued at just under £9bn when it listed in July, though a subsequent share price decline has seen this fall back to £7.8bn.
About 20 per cent of the money raised on the exchange in 2021 was by new investment trusts.
As of 16 December, proceeds raised through IPOs by UK issuers stood at $22.8bn (£16.9bn), according to Refinitiv data – a 367 per cent year-on-year increase. Globally, IPO proceeds were up 81 per cent to $402.1bn.
