Initial public offerings on the London Stock Exchange are on track for their worst year in the past seven, as political wrangling over Brexit deters companies and investors from taking the plunge.

Just 12 deals have listed and priced in the UK main market so far this year, a decline from 16 at the same point in 2018 and sharply down from 28 during the first nine months of 2017, according to Dealogic, the data provider.