Australia markets closed
  • ALL ORDS

    7,325.80
    +8.30 (+0.11%)
     
  • ASX 200

    7,063.50
    +4.90 (+0.07%)
     
  • AUD/USD

    0.7736
    -0.0019 (-0.25%)
     
  • OIL

    63.07
    -0.39 (-0.61%)
     
  • GOLD

    1,777.30
    +10.50 (+0.59%)
     
  • BTC-AUD

    80,172.05
    -125.16 (-0.16%)
     
  • CMC Crypto 200

    1,398.97
    +7.26 (+0.52%)
     
  • AUD/EUR

    0.6452
    -0.0021 (-0.32%)
     
  • AUD/NZD

    1.0822
    +0.0016 (+0.15%)
     
  • NZX 50

    12,684.73
    +48.18 (+0.38%)
     
  • NASDAQ

    14,041.91
    +15.71 (+0.11%)
     
  • FTSE

    7,019.53
    +36.03 (+0.52%)
     
  • Dow Jones

    34,200.67
    +164.68 (+0.48%)
     
  • DAX

    15,459.75
    +204.42 (+1.34%)
     
  • Hang Seng

    28,969.71
    +176.57 (+0.61%)
     
  • NIKKEI 225

    29,683.37
    +40.68 (+0.14%)
     

IPO boom powers London Stock Exchange to best first quarter in 15 years

Oscar Williams-Grut
·Senior City Correspondent, Yahoo Finance UK
·2-min read
A security guard stands beside the logo for the London Stock Exchange Group outside the stock exchange in London on December 29, 2020. - The London stock market soared on December 29 as investors gave their initial verdict on Britain's Brexit deal with the EU, while eurozone equities also rose on upbeat US stimulus news, with Frankfurt extending its record breaking run. (Photo by Tolga Akmen / AFP) (Photo by TOLGA AKMEN/AFP via Getty Images)
The London Stock Exchange Group on Friday said 25 companies raised £7.2bn through floats on its main market and junior market AIM in the first three months of 2021. Photo: TOLGA AKMEN/AFP via Getty Images

A boom in companies listing on the London Stock Exchange (LSEG.L) has powered the operator to the best first quarter for listings in 15 years.

The London Stock Exchange Group on Friday said 25 companies raised £7.2bn ($9.9bn) through floats on its main market and junior market AIM in the first three months of 2021. That was the most raised in the first quarter since 2006 and the highest number of floats since 2015.

“London Stock Exchange has had a fantastic start to the year, helping companies raise over £15bn in equity capital in the first quarter," said Murray Roos, group head of capital markets at the London Stock Exchange.

"The positive activity demonstrates the ability of UK capital markets to support dynamic companies across all sectors and from around the globe, enabling them to access deep pools of international capital in London.”

WATCH: How to prevent getting into debt

Notable floats in the first quarter include Dr Martens (DOCS.L), Moonpig (MOON.L) and review website Trustpilot (TRST.L). However, the quarter ended on a sour note with Deliveroo's (ROO.L) IPO. The takeaway delivery app saw its share price crash 26% on the first day of trading in the worst London listing performance for at least a decade.

READ MORE: Deliveroo IPO flop deals blow to London's tech ambitions

The London Stock Exchange will be hoping that Deliveroo's performance doesn't put off other companies considering listing. Momentum looks set to continue with the likes of money transfer business Wise and cyber security companies Darktrace both said to be considering floats in London.

The bumper start to the year for the London Stock Exchange comes amid a wider boom in business activity. The start of 2021 saw the highest level of global M&A since 1980, the Financial Times reported on Wednesday. The boom in SPAC deals helped drive a flurry of dealmaking that saw $1.3tn-worth of deals agreed in the first three months of the year.

WATCH: What are SPACs?