London Stock Market IPOs Surge in First Half of 2024

London Stock Exchange Welcomes Eight New IPOs in H1 2024

Across both the main market and AIM, fresh listings pulled in a total of £513.8 million this first half.

Although there’s a slight dip compared to the £593.2 million raised in the same period last year, the market is picking up steam after the lows of Q4 2023.

Q2 Highlights (April–June)

Five companies took the plunge, contributing £225.0 million.
Raspberry Pi Holdings plc topped the charts on the main market with a whopping £172.9 million.
On AIM, AOTI Inc led the pack, bringing in £35.1 million.

Industry Sentiment

Scott McCubbin, EY UKI IPO Leader, remarks: “The London stock market is steadily gaining momentum after two challenging years of macroeconomic and geopolitical uncertainty.”

He adds, “The outcome of the forthcoming UK election promises clearer regulatory and policy guidance. Coupled with upcoming reforms to streamline the UK listing regime, the market is buzzing with optimism.”

McCubbin predicts that the renewed positive vibe and a robust pipeline of companies planning to list will bolster confidence in Europe’s largest stock market. He forecasts a burst of IPO activity toward the end of 2024 and into early 2025.”

Global IPO divergence widens as Americas and EMEIA surge and Asia-Pacific slows

Global IPO Market Takes a Bit of a Breath in H1 2024

It’s a classic case of “more toast, less bread”: the world’s IPOs pulled back 12% in the first half of 2024, and the moolah they raised dipped by 16% year‑over‑year.

Key Numbers at a Glance

551 new public companies popped up worldwide.
Total proceeds: US$52.2 billion.
Asia‑Pacific listings slid 43% and the €73% drop in cash raised.
Americas bounced back: 86 IPOs yielding US$17.8 billion, up 12% and 67% YoY.
EMEIA surged, hitting the highest share by number since the 2008 crisis.
India went from 13% to a whopping 27% of the global deal volume, with 152 launches.

The Why Behind the Tone‑Down

Below is the memo that explains the slow‑down in Asia‑Pacific:

Geopolitical tensions and election dust‑up.

Economic slowdown – the daily grind isn’t looking bright.

Interest rates climbing, making borrowing pricier.

Drought in market liquidity; investors are playing it tight.

China’s regulators are tightening the lid on IPOs, demanding stronger, bigger companies step onto the stage.

Industry Voices

Debbie O’Hanlon, EY UKI Private Leader:

“The second half of 2024 will be shaped by central banks hugging the rate‑cut wheel, more global spice, and, of course, the election super‑cycle that’s heating up all over the world.”

“Companies might pause to dodge the election storm, waiting for calmer seas. Flexibility will be the name of the game in this ever‑shifting IPO landscape.”