The wave of momentum across global equity capital markets continued in Q2 this year. In late 2020 and Q1 2021, when the IPO window re-opened, stay-at-home technology dominated. Meanwhile Q2 2021 saw a significant number of online retailers go public. This has been supported by favourable market conditions. H1 2021 was the largest H1 for IPO proceeds since 2014. £9.8bn was raised via 49 IPOs. Over 50% of this capital was raised by Technology and Consumer Internet companies. In total, £27.6bn was raised in London through IPOs & Further Offers (FO), making London the most active equity market in Europe.
In H1 2021, AIM accounted for 43% of all IPO and FO capital raised on Europe’s Growth Markets, topping the league table for capital raised, through £1.1bn in IPOs and £3.2bn in FOs. With high profile listings such as Victorian Plumbing, the largest IPO ever in AIM’s history by market cap (£850 m), and tinyBuild, the largest ever American IPO by market cap on AIM (£472m), AIM maintains its position as the European growth market capital of choice. In terms of liquidity, H1 2021 has already seen 66% as much trading in AIM stocks as FY 2020.
169 new Exchange Trade Products (ETPs) came to the London market in H1, increasing the total number of ETPs to 1,741. 42 new ETFs were listed with an ESG methodology. Average daily value traded was £666m, taking up about 15% of the LSE order book turnover .
LSE and Turquoise, a Pan-European trading platform, are the #1 lit and dark markets respectively for GDRs from Russia, Kazakhstan, India and South Korea, accounting for $337m average daily turnover in H1. Through our international order book (IOB), investors can access some of the fastest-growing emerging markets through over 130 GDRs, including Shanghai London Stock Connect names.
Top 10 Traded GDRs on Orderbook in 2021 YTD
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