The London Stock Exchange recorded its strongest quarter for initial public offerings since the post-pandemic boom of 2021, with 14 companies raising a combined £8.6 billion in the three months to June.
The revival has been attributed to the new UK Listing Rules, which came into force earlier this year and simplified the listing process while allowing dual-class share structures that are popular with tech founders.
"The reforms are working exactly as intended," said the London Stock Exchange CEO. "We are seeing a pipeline of high-quality companies choosing London, and that pipeline continues to build."
Technology and life sciences dominated the new listings, with the largest being cybersecurity firm CipherGuard at £4.2 billion. Analysts at Goldman Sachs described the quarter as a 'structural inflection point' for London's capital markets.
