The UK market for initial public offerings is shaping up for the worst start to a year in a decade, reflecting investors’ loss of confidence in London’s capital markets, which have been rocked by chaotic Brexit negotiations and a worsening economic slowdown.

There were just three IPOs listed in London in the first quarter of 2019, raising a total of $152m, according to data provider Dealogic. During the same period in 2009, immediately after the financial crisis, not a single company listed in the UK.