In total, the number of initial public offerings (IPOs) on the London Stock Exchange (LSE) in 2024 was **, less than the number of IPOs of 2023. Among these, more than half of the IPOs took place on the alternative investment market (AIM).

The number of initial public offerings (IPOs) on the London Stock Exchange fluctuated significantly between 2010 and 2025. The number of IPOs reached a total of *** in 2021, the second-highest figure recorded since a peak of *** in 2014. However, it witnessed a significant decline in the following years, with only ** IPOs recorded in 2024. As of March 2025, the number further decreased to *, indicating a similar trend when compared to the previous year.

As of April 2024, money raised through initial public offerings (IPOs) on the London Stock Exchange (LSE) amounted to ***** million British pounds, a significant decrease compared to the previous year. New listings on the International Market of the LSE accounted for more than ** percent of the total money raised through IPOs on the LSE in 2024. In fact, Air Astana Joint Stock Company, the only listing in the international market, emerged as the largest contributor to LSE in terms of money raised.

In terms of new money raised, the largest initial public offering (IPO) on the London Stock Exchange (LSE) as of April 2025 was that of Glencore Intl Plc, which raised approximately *** billion British pounds. The second largest was Rosneft OJSC, which brought in almost *** billion British pounds.

As of December 2024, the largest IPO in the UK took place in 2011 by Glencore International, the world's largest natural resource company headquartered in Baar, Switzerland, with a total market capitalization at IPO of ** billion British pounds.

United Kingdom Number of New Issues: IPOs data was reported at 8.000 Unit in Nov 2018. This records an increase from the previous number of 7.000 Unit for Oct 2018. United Kingdom Number of New Issues: IPOs data is updated monthly, averaging 3.000 Unit from Jan 2018 (Median) to Nov 2018, with 11 observations. The data reached an all-time high of 9.000 Unit in Jul 2018 and a record low of 1.000 Unit in Sep 2018. United Kingdom Number of New Issues: IPOs data remains active status in CEIC and is reported by London Stock Exchange. The data is categorized under Global Database’s United Kingdom – Table UK.Z012: London Stock Exchange: Number of Issues and Cancellations.

As of April 2025, the multinational commodity trading and mining company Glencore International had the largest all-time IPO on the London Stock Exchange. The Anglo-Swiss company debuted on the LSE in May 2011 with an opening price of ***** billion British pounds. An initial public offering is the process by which the shares of a private company are sold to public investors for the first time.

In 2024, the largest initial public offering (IPO) on the London Stock Exchange involved the stock market debut of Aoti, Inc. In June 2024, Aoti, Inc. had an opening market capitalization of *** million British pounds. Aberforth Geared Value & Income Trust Plc had the second-largest IPO of the year, reaching a market capitalization of *** million British pounds.

2023 saw a total of ** initial public offerings (IPOs) on the London Stock Exchange (LSE), compared to ** in the previous year, with a total market capitalization on admission of *** billion British pounds. While the largest admission in 2023 was by Amicorp FS (UK) plc, the all-time largest admission onto the LSE was by Glencore International plc in 2011. An Initial Public Offering (IPO) is the first time that a company's stock is sold to the public in the organized capital market.

Stock and commodity exchanges can benefit from various sources of revenue, ranging from fees charged through the purchasing and selling of stocks and commodities to the listing of companies on exchanges with IPOs. Yet, this hasn't meant exchanges have been free of challenges, with many companies looking to more attractive overseas markets in countries like the US that embrace stronger growth. The most notable culprits have been ARM and CRH, refusing to put up with the increasingly cheaper valuations offered by UK stock exchanges. Stock and commodity exchange revenue is expected to boom at a compound annual rate of 11.5% over the five years through 2024-25 to £15.4 billion. Boosted by the London Stock Exchange Group's Refinitiv purchase in 2021-22, the growth numbers seem inflated. The industry saw ample consolidations, aided by MiFID II's initiation in 2018. However, M&As have now decreased because of high borrowing costs. New reporting demands have bumped up regulatory costs, resulting in thinner profits. Banks, aligning with Basel IV, are pulling back on investments. Post-COVID market turbulence fuelled trades, but it's slowing down with economic stabilisation. The inflation slowdown pushes investors towards higher-value securities, boosting trade value despite lower volumes. The weak pound has been beneficial for revenue, especially for the LSEG, bolstered by dollar-earning companies in the FTSE 100. Stock and commodity exchange industry revenue is expected to show a moderate increase of 1.3% in 2024-25. Revenue is forecast to climb at a compound annual rate of 4.1% over the five years through 2029-30 to £18.8 billion. The cautious descent of interest rates from the Bank of England will slow down volatility and ensure greater business confidence in the UK. This will bring back up consolidation activity to support revenue growth, reviving the digital information and exchange markets. The most pressing concern for the industry will be potential limitations on access to the EEA for the clearing segment of the industry, which could shatter short-term growth and keep the tap running for companies exiting UK exchanges.

The total value of initial public offerings (IPOs) on the London stock exchange's main market and alternative investment market (AIM) fluctuated significantly between 2019 and 2022. During 2021, both the main market and the alternative investment market (AIM) reached new heights, with IPOs reaching a combined value of over ** billion and over ***** billion British pounds, respectively.

UK Capital Market size was valued at USD XX Billion in 2024 and is projected to reach USD XX Billion by 2032, growing at a CAGR of XX % from 2026 to 2032.

The UK capital market is driven by a strong financial infrastructure, regulatory stability, and London’s status as a global financial hub. Growing foreign investments, fintech innovations, and sustainable finance initiatives further boost market activity.

Rising demand for IPOs, green bonds, and private equity funding fuels capital flow. Post-Brexit policies, government incentives, and a resilient economy attract both domestic and international investors.

Explore our in-depth industry assessment on IPOs and discover the critical insights into 'What's Missing.' Uncover gaps, challenges, and opportunities. Read More

The global Securities Exchanges Market, valued at $64.40 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 12.1% from 2025 to 2033. This expansion is fueled by several key drivers. Increased regulatory scrutiny and a growing focus on transparency are pushing more companies towards listing on established exchanges, fostering market growth. Furthermore, technological advancements, including the rise of high-frequency trading and sophisticated trading platforms, are enhancing efficiency and attracting a wider range of participants. The expanding global economy and increasing participation from emerging markets further contribute to the market's upward trajectory. The market is segmented by service type, encompassing market platforms, capital access platforms, and others. Market platforms, providing core trading infrastructure and services, dominate the landscape. Capital access platforms, facilitating initial public offerings (IPOs) and other funding mechanisms, are experiencing significant growth driven by the need for capital in a dynamic business environment. Geographical distribution reveals strong performance in regions like North America and APAC, with China and the US acting as key contributors. Europe also holds a significant market share, driven by robust economies and established financial infrastructure. While regulatory changes present certain challenges, the overall market outlook remains positive, promising continued growth and expansion in the coming years. Competition within the securities exchange market is intense, with established players like the New York Stock Exchange (NYSE), Nasdaq, and the London Stock Exchange Group (LSEG) vying for market share alongside regional players. The success of these exchanges depends on their ability to adapt to evolving technological trends and maintain investor confidence. Future growth will likely be shaped by the integration of fintech innovations, the expansion into new asset classes (e.g., cryptocurrencies), and the increasing demand for sustainable and responsible investing. The consolidation trend in the industry might also accelerate, with mergers and acquisitions playing a significant role in shaping the competitive landscape. Factors such as geopolitical instability and economic downturns could pose short-term risks, but the long-term prospects for the securities exchanges market remain compelling.

新发行数量：首次公开募股在11-01-2018达8.000单位，相较于10-01-2018的7.000单位有所增长。新发行数量：首次公开募股数据按月更新，01-01-2018至11-01-2018期间平均值为3.000单位，共11份观测结果。该数据的历史最高值出现于07-01-2018，达9.000单位，而历史最低值则出现于09-01-2018，为1.000单位。CEIC提供的新发行数量：首次公开募股数据处于定期更新的状态，数据来源于London Stock Exchange，数据归类于全球数据库的英国 – 表 UK.Z012：伦敦证券交易所：发行和注销数量。

Companies in the Investment Banking industry provide financial advisory services, offering their insight on IPOs, M&As and equity and debt security underwriting activity. Competition has been fierce in recent years, with a flood of boutique firms entering the industry as bankers look for healthier rewards than those offered by the more regulated larger investment banks. Growing M&A and IPO activity before 2022-23 ramped up demand for investment banking services, although this momentum lost speed in 2022-23 as access to cheap capital ended. Revenue is expected to contract at a compound annual rate of 8.1% over the five years through 2025-26 to £8 billion, including an expected drop of 0.5% in 2025-26. Profit is also expected to edge downwards in 2025, though it remains high. Capital market activity surged at the height of the COVID-19 pandemic, lifting demand for investment banking services as governments and large international businesses across the world raised capital to fund fiscal stimuli and maintain cash flow levels. The boom in debt and equity markets showed no sign of slowing the next year, with IPO and M&A activity reaching record levels in 2021-22, driving demand for investment bankers’ services. However, in the two years through 2023-24, M&A activity plummeted thanks to rising interest rates, mounting geopolitical tensions and a gloomy economic outlook, which put companies off from seeking takeovers. In 2024-25, M&A activity fared better than IPOs, welcoming improvements in consumer confidence amid interest rate cuts, aiding revenue growth. However, IPOs continued on their downward trajectory as geopolitical uncertainty and high interest rates resulted in many companies delaying listings. Over 2025-26, M&A activity is forecast to continue to climb, but IPO activity may stall as Trump's tariff announcements erode investor sentiment, weighing on revenue growth. Revenue is anticipated to grow at a compound annual rate of 4.5% over the five years through 2030-31 to £10 billion. Deal activity is set to build as lower interest rates make leveraged transactions more attractive. Competition will remain fierce, driving technological innovation as investment banks try to improve decision-making processes and scale operations through the use of AI. Still, strong competition from overseas exchanges, like the S&P 500 in the US, will dent UK IPO activity in the coming years as companies move away from UK listings and the lacklustre valuations they offer, weighing on revenue growth.

More IPOs were listed on the London Stock Exchange in the last quarter of 2021 than in any other quarter since early 2016. Between October and December 2021, a total of ** IPOs occurred in the United Kingdom. An initial public offering (IPO) is the first time that a company's stock is sold to the public in the organized capital market.

In 2024, post-IPO performances on the London Stock Exchange (LSE) varied greatly. With a *** percent increase in share prices, Rosebank Industries was the leading company in terms of performance. On the other hand, with a ** percent reduction in share prices, GenIP showed the weakest post-IPO performance.

Revenue is projected to climb at a compound annual rate of 1.6% to £48.9 billion over the five years through 2024-25. Recent economic headwinds, including severe inflationary pressures and geopolitical tensions, have taken a hit on consumer spending and business activity, which has limited industry growth. However, the industry is countercyclical, meaning that demand for legal work in certain areas, including litigation and insolvency matters, grows in times of economic downturn. The largest firms have responded to the challenges posed by weaker business activity in the UK by expanding internationally, engaging in M&A initiatives and broadening their services to compete with accounting firms. The introduction of legislation allowing non-legal entities to own legal firms through alternative business structures has created significant price-driven competition. Pressure on fees has encouraged firms to enhance efficiency and cut costs. Law firms have increasingly invested in technology that reduces human error and speeds up routine work, increasing the time employees have to engage in more valuable activities. Following strong growth in 2021-22 as the economy recovered from the impacts of the COVID-19 outbreak, an adverse economic climate weakened industry performance over the two years through 2023-24. Soaring inflation, steep borrowing costs and geopolitical tensions eroded business confidence and restricted business spending, with M&A activity taking a hit. Residential property transactions also dropped amid squeezed consumer finances and high mortgage rates. However, revenue is estimated to climb by 3% in 2024-25 thanks to improving economic conditions, with inflation subsiding and interest rate cuts boosting business confidence and expansionary activity. Competitive pressures and the war for talent have weighed on profit. Amid growing costs, larger firms have hiked their fees to support revenue and profit. Over the five years through 2029-30, revenue is forecast to swell at a compound annual rate of 2.8% to £56.2 billion. A more positive economic climate will drive business activity, including deal-making and IPOs, hiking demand for corporate law. The housing market is also set to expand, fuelling property law demand, while more and more organisations will seek legal advice on sustainability matters. Consolidation activity will take place as firms seek to find avenues for growth. The pace of technological advancement will quicken, with more firms attempting to enhance the efficiency of their services using artificial intelligence, blockchain and smart contracts. This will help support profit growth, though the war for talent shows no sign of slowing down.