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Stock market listings surge in 2010

The number of new flotations on the London stock market soared year-on-year by more than four times in 2010, new figures have shown.

A report by the London Stock Exchange (LSE) found that 89 initial public offerings (IPOs) were seen on the LSE, up from 22 last year.

Findings revealed that proceeds from IPOs also rose annually by more than six times, increasing to £10.1 billion from the £1.5 billion raised in 2009.

July saw the largest-ever flotation by an Indian company, with Essar Energy - one of the country's top private sector power and oil and gas firms - raising £1.3 billion.

The year's company listings included those by online grocery retailer Ocado, SuperGroup, owner of fashion brand Superdry and more recently Betfair, the online sports betting giant.

Tracey Pierce, director of equity primary markets at the LSE, said: "We have seen a rejuvenation in the IPO market during 2010.

"Whilst last year our markets supported a significant amount of fundraising through further issues, 2010 injected some very positive signs of life into the new issues market, including a number of major wins for London."

However, not all of this year's IPOs have been an immediate success in a sign that investors are still wary.

Copyright © Press Association 2010

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