A summary of Holland Bendelows Stock Market Update for Q3

Against this difficult market backdrop London Stock Exchange saw a notable increase in IPO activity in 2019, which contributed to a 2.3% rise in IPO capital raised versus Q1-Q3 2018, with average IPO deal sizes at £1.2bn. £24.4bn of equity capital was raised on London Stock Exchange between Q1 and Q3, almost 3 times more than on the next largest European exchange.

London has established itself as the number one venue for cross-border IPOs and new listings, accounting for 35% (£3.7bn) of global value. In the last 3 years the majority of the largest IPOs on London Stock Exchange have been international issuers.

Over two thirds of Main Market IPO Companies are trading above offer price. AIM accounted for 65% of all IPO and further issue capital raised, and 3.2x more than the next European Growth Market. 7 of the top 10 European growth market stock market listings during Q1-Q3 took place on AIM.