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London IPO slump stretches into first half of 2023

Proceeds raised in London were flat while deals dropped by a third

London IPOs remain more than 90% below the bumper year of 2021
London IPOs remain more than 90% below the bumper year of 2021 Photo: In Pictures via Getty Images

The London IPO market slump continues into 2023 as inflation, high interest rates and geopolitics weigh on the minds of firms.

In the first half of 2023, 18 issuers raised £593m on the main market, with most of the activity emerging in the second quarter where 10 main market IPOs raised £497m, according to figures compiled by EY.

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