The London Stock Exchange (LSE) has seen its sixth year of growth, including the strongest year for technology initial public offerings (IPOs) since 2007.
The LSE had 36 technology IPOs in 2013, raising £1bn of capital. A total of 105 new companies joined the LSE in 2013, raising a total of £15.7bn throughout all of its Main Market and AIM IPO listings.
Technology companies such as biomedical technology firm NetScientific entered the LSE in 2013, bringing the number of technology companies on the London Stock Exchange, as well as the capital produced by them, to its highest level since 2007.
The Royal Mail Group raised £1.7bn of capital, and was the largest European IPO featured on the Exchange. International firms also raised a record sum of money, including Tinkoff Credit System, the largest international IPO, producing £1.8bn.
“2013 has been an exciting and positive year for the IPO market. We have seen a very healthy mix of UK and international companies using the London market as a platform for future growth,” said Xavier Rolet, CEO of the London Stock Exchange Group.
“We have been particularly pleased to see the number of tech companies using AIM, raising over £350m in the process. This is confirmation that high-growth companies, as well as their backers in the private equity and VC [venture capital] communities, are recognising the exceptional power of equity in driving growth,” he added.