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ECM bankers seek new ways to stay busy after Brexit

Bankers had hoped a 'Remain' vote would trigger a rush of IPOs, now they are being forced to focus their efforts elsewhere

ECM bankers seek new ways to stay busy after Brexit
Photo: iStockPhoto

It was supposed to be the event that triggered the return of the UK's IPO market. Instead, the result of the EU referendum has left London's equity bankers scouring the market for new kinds of deal opportunities.

Many had expected that a vote for the UK to 'Remain' would lead to a busy remainder of 2016, helping to make up for a lacklustre first half in which $3.5 billion was raised from companies listing in London. That figure was running 61% lower year-on-year.

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