Legal Services

ECM lawyers diversify amid IPO drought

Dealmakers have filled the IPO void with M&A and fundraising work as they prepare for a revival in London’s public markets

Legal experts have been forced to pivot with fewer floats to go around
Legal experts have been forced to pivot with fewer floats to go around Photo: Carl Court/Getty Images

City lawyers that specialise in equity capital markets have pivoted from listings work to more private placements and M&A deals as London’s IPO activity remains subdued. 

The shift comes as the UK’s public markets continue to grapple with a lack of new listings, a flurry of take-privates, and companies such as Wise and Paddy Power owner Flutter abandoning London for New York.

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