UK IPOs fall to lowest level since 2012 as Brexit jitters weigh

AIM bucks the trend

The number and value of Initial Public Offerings (IPOs) in the UK fell to the lowest levels seen since 2012 in the first nine months of the year, according to research from Henderson Managed Investment Trusts, as Brexit concerns hit issuers.

Just 41 IPOs took place in the first nine months of the year, while the value of companies coming to the market was just £9.9bn, down 16% from the same period a year ago, and the lowest level since 2012 when investor confidence was heavily hit by a slowing economy, the firm said. Additionally, new listings of £948m joined the main market and Alternative Investment Market (AIM) in the third quarter, down 42% year-on-year, while a number of high profile IPOs have been pulled this year, with food distributor Brakes Group and Pure Gym among them. LGIM's Penny: Be a bear of IPOs and a bull...