As the fallout from the UK election mixes with anxiety over looming Brexit negotiations, equity investment bankers are turning to the rest of Europe in the hope that a stabilising macroeconomic environment will help bolster initial public offering activity in the region in the second half of the year.

IPO activity has been subdued year to date. Europe has seen 93 IPOs this year, raising $14.4bn in total, compared with 102 deals worth $15.8bn in the same period last year and 137 deals worth $28.1bn in 2015, according to Dealogic.