London IPO market returns  

The London IPO market is making a comeback after a lacklustre 2023.

The renewed interest in London listings has been signalled by eight companies listing in the first six months, including the listing of innovative technology business Raspberry Pi, which raised £172.9 million in June. 

As we enter the second half of 2024, two additional companies have already listed on the main and AIM markets, contributing to an impressive £591.5 million raised so far this year. A stark comparison to the record low of 0 IPOs in quarter 4 of 2023.The decline in activity last year was largely attributed to economic and political uncertainty surrounding the UK economy. Businesses hesitated to raise funds, waiting for improved investor confidence. 

However, the tide has turned. There’s a fresh sense of optimism in the UK economy, fuelled by predictions of a robust pipeline of businesses seeking growth capital through listings. Proposed simplifications to listing rules and the recent election of a Labour government have further bolstered confidence. 

Why list your company on a public market?

Listing on a public market comes with many benefits, companies choose to list for several reasons:

• Raise finance: going public allows companies to access capital from a broader investor base. 

• Exit strategy: it provides an exit route for existing owners. 

• Employee incentives: listing enables employees to hold a liquid stake in the company. 

• Equity-based acquisitions: companies can issue new equity for acquisitions. 

• Increase corporate profile: listing can increase brand awareness 

• Reputation: the public may have more trust in the company knowing the increased corporate governance and regulatory requirements for a listed company 

Planning to list your business?

For businesses that are planning to list as a part of their growth strategy, having the right team of advisers is crucial.  If you’re considering a public market listing, appointing a Reporting Accountant is essential.  Our dedicated Corporate Finance team specialise in acting as Reporting Accountants, an important role stipulated by the UK listing rules. We provide public opinions and assurances regarding the financial track record of businesses seeking to list. 

In the last year our team have been involved as Reporting Accountant on listings that raised a combined £3.3m, including: 

• Time To ACT plc – listed on the AQUIS stock exchange. 

Discreet businesses focused on the opportunities provided by the cleantech, renewables and energy transition revolution. It has two principal operating divisions – Diffusion Alloys and GreenSpur. 

• Cykel AI – listed on the AQUIS stock exchange.
  Cykel is building a Natural Language Processing (NPL) technology that takes both spoken and typed requests from humans and performs tangible digital actions. Its machine learning model will seamlessly engage with all facets of the user’s computer environment.  

• Kondor AI – listed on the AQUIS stock exchange.
  A London-based developer of vision-based artificial intelligence products that analyses images and live photos responding to questions and challenges based on visual input. It is being offered to both businesses and consumers on a software-as-a-service model. 

Explore the full range of latest deals we’ve completed recently here. 

Already listed?

Companies listed on recognised stock exchanges operate in a distinct environment. They face stringent regulatory requirements, investor scrutiny and complex financial reporting standards. 

We understand these nuances and tailor our services accordingly. 

Led by Anne Dwyer, our dedicated team of auditors bring a wealth of experience to the table. We specialise in providing audit services to businesses listed on the main market, AIM and AQUIS. Whether it’s a UK-based company with an international parent, a group of interconnected entities or subsidiaries reporting under IFRS, this team navigates the intricacies with finesse. 

The team doesn’t stop at compliance; they elevate the audit process. Our engagement teams consist of seasoned professionals who understand the technical intricacies of IFRS reporting. These experts handle ‘large’ audit engagements—those involving companies and groups with revenues exceeding £36 million. Our insights extend beyond the numbers, providing valuable advice on complex accounting matters. 

In addition, our in-house tax team is able to provide tailored support both throughout the listing process as well as post listing. This can include ensuring compliance with tax filings as well as proactive and forward-looking strategic tax advice.       

As the IPO market gains momentum, having an advisor with specialised knowledge is crucial. Whether you are considering listing or are already a listed company, our advisors are here to guide you; contact us today.