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London's Stock Market Fights Back: Recent IPOs and Policy Changes Offer Hope

Recent IPOs like Beauty Tech and Fermi show London's market is still relevant. The Chancellor's consideration of stamp duty breaks for newly listed firms could help the City maintain its global equities status.

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This is a black and white image. I can see groups of people walking. I can see few people standing....
This is a black and white image. I can see groups of people walking. I can see few people standing. These are the dresses hanging to the hangers. I can see the shops. This looks like a bucket. These are the buildings with windows. This looks like a name board. I think this is the market. At the very right corner of the image, I can see the watermark.

London's Stock Market Fights Back: Recent IPOs and Policy Changes Offer Hope

London's stock market today is facing challenges, with the City falling behind Mexico and Singapore in IPO fundraising this year. However, recent developments, such as Fermi's dual listing and Shawbrook's upcoming IPO, indicate that the stock market is still relevant. Meanwhile, the Chancellor is considering a stamp duty break for newly floated firms to boost the market.

Beauty Tech is set to make its public debut, with an expected valuation of around £300 million. This follows US data centre group Fermi's successful listing on the London Stock Exchange. The City is abuzz with suggestions to revive the market, including removing the tax on share trading altogether and urging Rachel Reeves, the Shadow Chancellor, to take bold steps.

AstraZeneca's decision to list on Wall Street has sparked concerns about a potential permanent move, further threatening London's global equities status. The Chancellor is currently weighing a tax exemption for newly listed companies to counter this exodus.

The UK stock market faces significant hurdles, with the City's IPO fundraising ranking slipping and fears of companies leaving for other exchanges. However, recent IPOs and listings, along with potential policy changes, offer hope for a turnaround. The upcoming Shawbrook IPO and the Chancellor's considerations for newly floated firms could help London maintain its global equities status.

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