Canal+ Breaks the Quiet Bubble: A Grand Entrance on the London Stage
Who says 2024 was all spreadsheets and sluggish trades? The London Stock Exchange surprised everyone by welcoming the media giant Canal+ in the last quarter, pulling in a cool £2.6 bn. It’s the biggest debut since 2022—a real headline‑maker in a year that felt more like a slow‑paced lullaby.
Quarter‑by‑Quarter Breakdown
- Q4 2024: 8 IPOs in total
- 3 on the main market
- 5 on AIM
Combined, they netted £2.8 bn—the full‑stop of an otherwise quiet season.
- Year‑wide: 18 listings across the main market and AIM
That figure is the lowest floor since our friends at EY began crunching the numbers in 2010.
- Proceeds in 2024: £3.4 bn
That’s a 256% jump from the £953.7 m raised in 2023. Scale‑up, baby!
- Delistings & transfers: 88 companies moved their primary listing off the main market
Many blamed the bite of a lower liquidity bite and modest valuations compared to the US, where the capital pools are deeper and the trading volume runs like a fast‑lane highway.
Expert Insight: The Winds of Change
Speaking to the data, Scott McCubbin, EY UKI IPO Leader, said:
“It’s been a quiet year for the London Stock Exchange, and while Q4 activity picked up significantly, headwinds facing the UK’s listings market remain.
Ongoing geopolitical instability, sluggish growth, and pension funds trading with less enthusiasm for domestic equities have all taken a toll on valuations and liquidity. We also saw the largest outflow of companies from the main market since the global financial crisis as firms chased a richer investor base and better liquidity elsewhere.
But as we head into 2025, there are reasons to smile. A stabilised domestic policy environment after the recent election, a healthy stream of deal ideas, and listings reforms are opening the door for London to bump back into its prime spot. Businesses eyeing IPOs will be watching the market closely to time their debut just right.
“While London faces steely competition from other finance hubs, its unique strengths—world‑class expertise, stellar governance, and a tough legal framework—still give it a winning edge. Leveraging those advantages and rolling out smart reforms can bring London back as a top global destination for IPOs.”
Takeaway: London’s IPO Engine is Still Refurbishing
Canal+ is more than a headline; it’s a promising sign that the London market can still glitter even in the slowest of seasons. With new reforms on the horizon and a clearer policy backdrop, London may just reset its gears for a roaring 2025.
Global IPO volumes fell 10% with proceeds down by 4% YOY
IPO Fever 2024: India Storms the Charts While the US Reclaims the Crown
In 2024, the global IPO scene pulled in US$121.2 bn across 1,215 deals. It was a tiny dip from 2023, but the story behind the numbers is anything but ordinary.
India Takes the Stage
- 327 new listings – the nation’s first‑ever global lead in IPO volume.
- From biotech startups to IT giants, the surge shows India’s markets are cooking up fresh capital.
USA Crowned King of Proceeds
- Re‑winning the top spot for “money raised” for the first time since 2021.
- Global haul: US$27.6 bn from 2024 alone.
- A boost for the Americas: 205 IPOs netting US$33.1 bn.
Asia‑Pacific Bounces Back…Backwards
Deal flow fell 35% and proceeds plunged 51% vs. last year. Why?
- China’s stricter rules put the region’s decade‑old IPO super‑star back on the fence.
- Australia recorded its sharpest decline in volume in over two decades.
Private Equity & Venture Capital: Still the Shaky Handcuffs of the Market
PE and VC‑backed companies raked in 46% of the total global proceeds – proving that angel investors and venture philanthropists still own the financial throne.
Sector Spotlight: The Heavy Hitters
- TMT (Tech, Media & Telecom) – Leading the pack in both number & proceeds.
- Industrials & Consumer goods follow closely, together making up 60% of all IPO activity.
What the Experts Say
Grant Humphrey, EY Partner, Strategy & Transactions paints a futuristic picture:
“Shifts in monetary policy, rising geopolitics, digital transformation, and fresh ESG imperatives are reshaping the IPO world.”
“But local vibes and regional priorities now matter more than ever—think of it like a global song that’s still tuned to each country’s beat.”
“There’s growing optimism: with a better economy, supportive policy, and plenty of liquidity, 2025 could be a legit comeback year for IPOs.”
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