Best start for stock market IPOs since 2006
IPOs: Kevin Dorren of Parsley Box, and Dr Martens
The London stock Exchange has enjoyed its best start to a year for listings and admissions since 2006 as more companies seek to raise capital by going public.
Deliveroo may have suffered a disastrous debut this week, but it was the biggest flotation in London in the first quarter and was preceded by high profile brands such as shoe firm Dr Martens, consumer review business Trustpilot and the greetings card retailer Moonpig.
Edinburgh food delivery firm Parsley Box together with Thurso-based battery manufacturer AMTE Power were among 25 companies that together raised £7.17 billion in the first three months.
It was just shy of the £7.24bn made in the first quarter of 2006 and was also the highest number of floats since 2015, when 29 companies went public.
Of this year’s total 10 were of technology and consumer internet businesses.
More companies are lining up a listing or admission to AIM, including online retirement firm Pension Bee.
Some analysts attribute the surge to delays during 2020 which produced just eight, and Brexit in 2019 when only five companies joined the market.