"After a turbulent start to 2025, marked by heightened geopolitical uncertainty and volatile market reactions to the introduction of trade tariffs, IPO activity gathered momentum towards the end of the year. The final quarter saw a notable acceleration in listings as companies moved ahead with postponed floatation plans, encouraged by stabilising market conditions and improving investor sentiment. Looking ahead, the pipeline of prospective IPOs remains strong, supporting expectations of a renewed uptick in activity in the first half of 2026."
"Recent reforms to the UK's listing regime are beginning to have a tangible impact, improving market accessibility and issuer confidence. These changes have been further reinforced by measures announced in the Chancellor's Autumn Budget, including the introduction of a three-year stamp duty exemption for newly listed companies on the London Stock Exchange which will help to strengthen the UK's competitive position as a global listing venue."
Eleven UK IPOs in Q4 2025 raised £1.9bn, bringing 2025 totals to 23 listings—nine on the main market and 14 on AIM—and proceeds of £2.1bn. The 2025 total represented a 170% year-on-year increase from £777.7m raised by 18 issuers in 2024, although overall activity remains low compared with historic levels. Momentum accelerated late in 2025 as postponed flotation plans proceeded amid stabilising markets and improving investor sentiment. Recent listing-regime reforms and a three-year stamp duty exemption for newly listed companies aim to improve market accessibility and competitiveness. The IPO pipeline looks strong for early 2026, but deal uncertainty persists; issuers should prioritise timing, operational resilience and a compelling equity story.
Read at London Business News | Londonlovesbusiness.com
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