There were more funds raised via initial public offerings (IPO) in the UK in the first months of 2021 than any other first quarter since 2007, a new report has found.
The latest EY IPO Eye revealed 12 IPOs raised £5.2bn on the main market and eight IPOs raised £441m on the Alternative Investment Market (AIM).
First quarter fund raising achieved a total of £5.6bn, more than half of the £9.4bn raised in the whole of 2020.
In the first three months of last year, there were just three IPOs on the main market and two on AIM, which raised a combined total of £615m.
Scott McCubbin, EY partner and UK&I IPO leader, said: “The UK has had the strongest opening quarter for IPOs for 14 years, with the markets successfully weathering the effects of Brexit and bouncing back from the stall in activity caused by the onset of the pandemic a year ago.
“With an effective vaccine rollout underway, momentum and confidence in the UK IPO market should continue to build, but future growth may vary depending on the sector.”