London IPOs fell sharply in the third quarter as election nerves hit markets

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The number of initial public offerings (IPOs) fell sharply in the third quarter as uncertainty in the run-up to the General Election in May prompted many businesses to shelve plans until later in the year.
 
Only six flotations raising £184m took place in London over the past three months, including hostel owner Safestay, which listed on Aim, and IT company Kainos.
 
That compares with the 19 IPOs raising £1.5bn that took place over the same period last year and the £3.4bn raised via 22 floats in the previous quarter.
 
The main market saw two IPOs raising funds of £149m and Aim produced four IPOs, raising £45m.
 
EY said it expects the IPO market to finish the year on a high, with those companies which postponed their flotation plans coming to market in the final quarter.