Another IPO bites the dust as owner BCA Marketplace pulls its listing

Emma Haslett
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BCA Marketplace pulled its £200m IPO today (Source: BCA Marketplace)

Is this the end of London's short-lived IPO boom? Used car auctioneer BCA Marketplace - the owner of - has become the third company in two weeks to cancel its IPO, saying volatility in global equity markets has put it off.

The news follows much-publicised shelvings of IPOs by challenger banks Aldermore and Virgin Money, both of which were announced in the last two weeks.

Last week Aldermore cancelled plans for an £880m float citing the "recent deterioration of global equity markets", saying that although it was likely to explore an IPO again, it was doubtful that would happen before the general election in May. On Friday, Virgin also pulled its planned £2bn listing, although it added it will try again "as soon as constructive market conditions allow".

In a statement to the stock market this morning, BCA said it had been "very encouraged" by interest shown by investors, but that it had decided "not to proceed at this time".

The company and its private equity owner, Clayton, Dubilier & Rice, had planned to list 25 per cent of shares in November, which was expected to value it at £1.2bn.

The decision also follows a shaky listing by fashion brand Jimmy Choo, which priced shares right at the bottom of its range when it listed last week, although its price has since risen.


■ Fashion retailer Fat Face defied strong markets to pull its listing in May after disappointing debuts from rivals
■ Budget airline Wizz Air shelved its float in July due to a poor valuation of the company
■ Housebuilder Miller Homes scrapped its stock market debut earlier this month due to market concerns
■ Challenger bank Aldermore gave up the ghost last week after scrambling to cover the book
■ Virgin Money followed suit and postponed its flotation due to markets

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