 plunged again during the first six months of the year as ministers battle to revive the City's stock market. The number of floats on the LSE fell by almost a third between January and June compared to the same period last year, while proceeds raised remained flat at £593m, according to a report by EY. The data highlights the LSE's ongoing struggles and comes after several FTSE 100 companies pledged to shift their listings to New York in recent months. Last month, WE Soda, the world's largest natural soda-ash producer, scrapped its £6bn London listing , citing 'extreme investor caution'. Scott McCubbin, head of initial public offerings (IPOs) at EY, said: 'The London IPO market continues to experience challenges with macroeconomic and geopolitical pressures having an adverse impact on businesses looking to list in the UK. 'These headwinds will need to abate to enable real growth, however with some larger IPOs expected in 2024 and a strong pipeline, the long-term outlook looks more positive.' In a bid to boost the beleaguered market, the Financial Conduct Authority (FCA) has consulted on proposals to water down some of its listings rules. The regulator has proposed to replace the current premium and standard system with a 'single segment' regime with less onerous rules. At present, only companies with a premium listing are eligible to be included in the FTSE indexes – which are influential because they are tracked by passive funds – meaning that scrapping the current regime would mark one of the most significant overhauls of London's stock market rules since the 1980s.){kind=link}
Plans to boost competitive standing face opposition from pensions chiefs
Listings on the London Stock Exchange (LSE) plunged again during the first six months of the year as ministers battle to revive the City’s stock market.
The number of floats on the LSE fell by almost a third between January and June compared to the same period last year, while proceeds raised remained flat at £593m, according to a report by EY.
The data highlights the LSE’s ongoing struggles and comes after several FTSE 100 companies pledged to shift their listings to New York in recent months.
Last month, WE Soda, the world’s largest natural soda-ash producer, scrapped its £6bn London listing, citing “extreme investor caution”.