Deals Review H1 2023

Capital Markets

read timeRead time: 13 mins

As the London Stock Exchange (LSE) announces its plans to create more accessible, effective and competitive investment opportunities, and the Financial Conduct Authority (FCA) sets out to reform the UK equity listing regime, the desire to reinvigorate the attractiveness of the London market is without a doubt a difficult challenge.

The number of trades made on the LSE in H1 2023 dropped to levels not seen since the financial crisis. Although it hasn’t just been trading that has slowed down, IPOs have faltered in 2023 with many expected deals falling through as companies decide against listing in the capital.

Despite this fall in the number of companies listing in London (down 40 per cent since 2008), and with concerns it may lose out to overseas rivals, it seems London has maintained its position as the most active market in Europe. Secondary raises were the most common source of fundraising in the year, however we have started to see a resurgence of companies starting the IPO process once again, and we are proud to have supported many companies looking to list in the first half of 2023.

We look forward to continuing to help our clients achieve their future aspirations.