London float market bounces back to pre-credit crunch levels

Michael Bow
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STOCK market floats in London are at their highest level since 2007 thanks to a spate of initial public offerings (IPO) this year, data revealed yesterday.

Volumes from UK issuers have reached $3.7bn (£2.4bn), massively up from the $48m recorded in the same period last year, and their highest since the 2007 high water mark of $7.9bn from 15 IPOS.

The £1.2bn float of insurer Esure has been the largest of eight floats conducted in London this year, helping give the capital a 47 per cent share of all IPOs in Europe – the highest on record.

The statistics, from Dealogic, shows Barclays head of the pack as top bookrunner for London floats.