London Stock Exchange sees value of floats double in 2013

COMPANIES have raised £9.3bn through London floats since March, it was revealed yesterday – more than double the amount raised from IPOs in the whole of last year.

London Stock Exchange Group (LSE) said it helped 63 firms go public in the five months to 31 August, against just 53 in 2013.

This is set to increase by the year-end with a glut of firms, including Royal Mail, due to go public in the coming months.

The bourse operator said it had benefited from the rush to list, with equity trading volumes also up five per cent as the stock market enjoyed a bull run.

LSE has diversified its business away from equities and also saw strong growth at its newly-acquired LCH.Clearnet unit and fixed income divisions.