£9.4bn record for stock market floats

A RECORD £9.4 billion has been raised by firms listing on London’s stock market so far this year.

The London Stock Exchange has also seen the highest number of companies float in the first five months of a calendar year since the financial crisis, according to data provider Dealogic.

Steven Fine, chief executive of investment bank Peel Hunt, said the market was ‘as strong as I’ve ever known it’ and Ross Mitchinson, co-chief executive of rival Numis, said there was still ‘pentup’ demand for listings.

The boom will boost Chancellor Rishi Sunak’s aim for Britain to be the go-to listings venue for fast-growing firms after Brexit.

Top UK listings in 2021 include Cambridge cyber security firm Darktrace, valued at £1.7 billion. Floats later this year are set to include life sciences firm Oxford Nanopore, which could fetch a value of £4billion, and tech firm Wise.