Numis: No 'meaningful' pick-up in London IPO market in short term

No change in market conditions

Independent investment banking group Numis does not foresee any recovery to the current state of stock market flotations in London.

In a trading update yesterday (3 April), the investment bank said it experienced lower revenues due to a "continued scarcity" of UK equity capital market transactions across the market. London has recently come under fire after several companies opted for listings in New York. London loses sole spot as top financial centre as city ties with New York As a result, in the six months to 31 March 2023, the investment bank suffered a drop in performance, expected to be at around £64m, a 14% fall from H1 2022. But Numis said it is "well positioned" to benefit from a recovery in capital...