The London Stock Exchange (LSE) is expected to bring up its 100th company flotation of 2017 this week, breaking the century barrier for the first time in three years thanks to a strong international showing and a proliferation of investment fund listings.
Some 98 companies have listed so far this year, with further listings of multiple companies expected as early as today.
British games developer Sumo Group will lead the final push towards the 100 mark, with an announcement expected this morning of a £38m fundraising which will value the firm at £145m at the placement price, City A.M. understands.
Biotechnology firm Fusion Antibodies, spun out of Queen’s University Belfast in 2001, aims to raise £5.5m to fund its expansion, while Israeli miner Shefa Yamim is looking to raise £5m in its bid to start mining for precious stones.
Meanwhile, in-video advertising tech firm Mirriad Advertising could also list just in time for Christmas as well.
The late flurry of listings will push the overall value of listings to date to around £14.8bn, around four times higher than the next European competitor, according to data from the London Stock Exchange up to the end of last week.
The figures also reveal a striking trend towards international floats, with 20 North American companies choosing London during 2017 so far.
Nine of the top 10 initial public offerings (IPOs) from the last year have come from outside of the UK, led by Allied Irish Banks, Russian energy and commodities conglomerate EN+, and US-based J2 Acquisition.
Nikhil Rathi, chief executive of the LSE, part of the LSE Group, said: “Despite the challenges Brexit presents, London’s highly global, deep and liquid capital markets continue to be the ideal partner for funding the world’s growth.
“It is particularly significant that the number of international listings in London is up, with North American listings up nearly seven-fold on last year.”
The LSE recorded its best year so far for real estate investment trusts and other funds, tripling its takings compared to 2016.
The LSE will hope to continue its run of form in 2018 under a new chief executive, after former boss Xavier Rolet resigned in an attempt to end a battle with an activist investor.
Investors will vote on Tuesday on whether to remove chairman Donald Brydon, the culmination of a campaign by hedge fund manager Sir Chris Hohn against the board.
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