Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the money raised in Initial Public Offerings on the London Stock Exchange over the last five years.

Following a global slowdown in IPO activity during the pandemic period, 2021 saw a spike in activity, with London maintaining its status as the dominant European IPO market.

Over 120 companies chose to list in the UK in 2021, the highest number since 2014 and more than in 2019 and 2020 combined. These listings raised a total of £17 billion, the most raised in 15 years and comfortably more than any other European jurisdiction. 2022 saw limited IPO activity globally due to market turbulence.

The government is taking action to ensure that London remains Europe’s dominant IPO market. Government and the regulators are working together to deliver the outcomes of Lord Hill’s Listing Review, the Wholesale Markets Review and Mark Austin’s Secondary Capital Raising Review. The Financial Services and Markets Bill will be key in delivering these reforms as it seizes the opportunities of EU Exit to bolster the competitiveness of the UK as a global financial centre.