Hunt must ‘roll out the red carpet’ for firms looking to IPO, City group warns

The government needs to “roll out the red carpet” for companies mulling an IPO if the City is to solve the listings drought that has gripped London over the past year, a top City body has warned.

In a letter to Chancellor Jeremy Hunt ahead of his budget on March 6, TheCityUK, which represents the UK’s financial services sector, said the government needs to be more proactive in wooing companies and championing the appeal of London’s markets.

The warning comes after a sharp drop-off in listings over the past year which saw just 23 IPOs on the London Stock Exchange, down from 45 in 2022, which itself was a 62 per cent drop on the record 119 listings in 2021.

The number of firms listed in London has now cratered by around 40 per cent from its peak in 2008.

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