London IPOs fell sharply in the third quarter as election nerves hit markets
The number of initial public offerings (IPOs) fell sharply in the third quarter as uncertainty in the run-up to the General Election in May prompted many businesses to shelve plans until later in the year.
Only six flotations raising £184m took place in London over the past three months, including hostel owner Safestay, which listed on Aim, and IT company Kainos.
That compares with the 19 IPOs raising £1.5bn that took place over the same period last year and the £3.4bn raised via 22 floats in the previous quarter.
The main market saw two IPOs raising funds of £149m and Aim produced four IPOs, raising £45m.
EY said it expects the IPO market to finish the year on a high, with those companies which postponed their flotation plans coming to market in the final quarter.