A bumper IPO season has caused investment banking fees to rocket by 13 per cent compared to the previous year, new research has shown.
A study by Thompson Reuters shows investment banks made $68.8bn (£42.69bn) during the first nine months of 2014, the strongest period since 2007 before the global financial crash.
Research by EY confirmed that the third quarter of 2014 has been the busiest summer period for IPOs since 2007, with 19 offerings raising a total of £1.4bn. In the year to date there have been 80 floatations making £12.2bn cumulatively.
David Vaughan, EY’s IPO leader for UK and Ireland, said: “Moving forward we expect to see a good finish to what has been an exceptionally strong year.”