Global initial public offerings (IPOs) saw a three per cent decrease in 2024, marking the lowest value since 2008, with the º£½ÇÊÓƵ ranking 35th among all stock exchanges. According to data provided by the London Stock Exchange to City AM, there were 1,145 IPOs worldwide in 2024, down from 1,271 the previous year.
The data, which excludes secondary listings, direct listings, Spacs and closed end trusts, showed the poorest number of global IPOs since 2019, when only 1,118 companies debuted, and the third worst in over a decade, as reported by .
Meanwhile, the value of IPOs dropped three per cent to $108.4bn (£86.4bn), the lowest since 2008 when proceeds fell to $94.8bn (£75.6bn), the only time IPO value has fallen below $100bn in two decades.
Data up to 17 December revealed that every quarter in 2024 saw fewer than 300 floats globally, a trend not seen since the second quarter of 2020. London’s stock exchange ranked 35th globally for IPOs, raising just $576.7m (£459m), or 0.53 per cent of the global market.
However, when including follow-on fundraising, the º£½ÇÊÓƵ jumped to fifth place, raising $28bn (£22bn) with 73 issuances, a 53 per cent increase from 2023. This included two $3bn follow-ons from Haleon, both of which made it into the top ten largest follow-ons globally in 2024.
India topped the global charts for Initial Public Offerings (IPOs), with its National Stock Exchange raking in £14.5bn from 252 offerings, while the Bombay Stock Exchange was not far behind, bringing in £13bn from 139 offerings. The largest IPO of the year was the £4.1bn float of real estate investment trust Lineage in the US, followed by India’s £2.6bn Hyundai Motor India.
Special Purpose Acquisition Company (SPAC) IPOs saw a 15 per cent increase throughout 2024 to 102, although these were predominantly from the US, with all ten top SPAC IPOs of the year being issued in the country.
