London wins as the location of choice for company flotations

LONDON was at the centre of a European upsurge in initial public offerings (IPOs) during the final quarter of last year, according to data compiled by PricewaterhouseCoopers.

The capital led the number of transactions by volume, securing 49 of the 130 European listings in the fourth quarter.

The value of IPOs was also dominated by London, which saw €3bn (£2.5bn) of the money raised for the period. Its most valuable flotation was that of media company Mail.ru Group, which generated €669m.

European exchanges attracted just over €10bn of IPOs compared with €2.5bn in the previous quarter.

Yet Europe remained behind globally, placing behind the US which raised €30bn and Greater China, which raised €98bn.