The number of new initial public offerings (IPOs) in primary markets more than doubled in the three months to June 30 2014, according to the London Stock Exchange Group.
In its three month interim results statement, which also outlined further details of its proposed acquisition of the Frank Russell Company, the group highlighted strong growth in capital markets as its revenues from this area increased 16 per cent.
The company stated that in July alone, new issues in primary markets on the group’s UK and Italian exchanges, reached 28, compared with 25 in the same period in 2013. It added that new issue activity had continued into August with seven IPOs in “what is normally a seasonally quiet period”.
Xavier Rolet, chief executive of the London Stock Exchange Group, said: “We have seen a resurgence in the IPO market with an increase in both the number of companies joining our markets and the amount of money raised.”
For the three months to June 30 2014, the group saw 78 issuers coming to market, compared with 33 in the same period the previous year, while the total amount of capital raised in the quarter, from both new and further issues, reached £19.9bn against the £6.1bn raised in 2013. The group attributed the growth to strength in both domestic and international markets.
