London Records Strongest Year Of IPOs Since 2021
In 2025, London experienced a significant increase in Initial Public Offering (IPO) activity, marking its strongest performance since 2021. Despite a slow start, the fourth quarter demonstrated renewed momentum in the market.
In 2025, London experienced a significant increase in Initial Public Offering (IPO) activity, marking its strongest performance since 2021. Despite a slow start, the fourth quarter demonstrated renewed momentum in the market.
According to a report by PwC, European IPO activity gained substantial traction towards the end of 2025. In the fourth quarter alone, 15 IPOs raised €5.5 billion. For the entire year, European listings accumulated €12.5 billion from 60 IPOs, despite economic challenges.
Notably, Verisure's €3.2 billion IPO was the largest in Europe, conducted in Stockholm. Other significant IPOs included Swiss Marketplace Group (€967 billion) and Asker Healthcare (€823 billion), also listed in Stockholm, which hosted four of the top ten IPOs in Europe.
London raised £1.9 billion from 11 IPOs in 2025, with £1.3 billion occurring in the fourth quarter. Prominent companies such as Shawbrook and Princes Group contributed significantly with IPOs priced at £348 million and £400 million, respectively. A three-year stamp duty holiday on new UK IPOs announced in the autumn budget played a role in this robust performance.
In 2025, London experienced a significant increase in Initial Public Offering (IPO) activity, marking its strongest performance since 2021.
Globally, IPO activity reached $143.3 billion across 1,014 IPOs, a 21% increase from the previous year. The United States and Asia-Pacific regions were primary contributors, together accounting for over $120 billion. The largest global IPO was Medlin's $6.3 billion listing in the US.
Key sectors driving this growth included Financials ($42.3 billion), Information Technology ($19.6 billion), Consumer Discretionary ($18.8 billion), and Industrials ($18.1 billion).
As 2026 begins, the momentum from 2025 is expected to continue, with a strong pipeline of large-cap IPOs anticipated across various sectors, including Consumer, Financial Services, and Technology, Media, and Telecommunications (TMT).
Based on reporting by techround.co.uk.
