Proactive Investors - Britain’s initial public offering (IPO) market will likely remain constrained over the remainder of the year before a resurgence in 2025, according to Peel Hunt (LON:PEEL).
Analysts from the investment bank noted that post-summer IPO activity had been subdued as companies waited for the UK’s looming Budget and the presidential election in the US.
Rosebank Industries PLC (LON:ROSE) and Aberforth Geared Value & Income Trust PLC were the only companies to list in London over the third quarter, joining the AIM and main market respectively.
This meant just 10 companies listed in the first nine months of 2024, drumming up a total of £584.6 million, down 47% compared to the same period in 2023.
Peel Hunt reported its IPO Speedometer had slowed from 29 to 27 miles per hour between August and September, indicating the market was “selectively open”.
Several companies were said to be holding early-stage meetings or in the process of gearing up for IPOs, Peel Hunt said, leaving scope for a bounce-back next year.