Initial public offerings in the U.K. are firmly on course for a record first quarter, even before any intervention from regulators. This year, listings in the U.K. have raised 4.6 billion pounds ($6.3 billion), data compiled by Bloomberg show. With food-delivery company Deliveroo, consumer review platform Trustpilot Group Plc and infrastructure fund Digital 9 expected to add billions to the tally before the month is up, London is on track to surpass its biggest-ever first quarter in 2006, when proceeds reached 6.4 billion pounds.
A state-backed report last week recommended that London make it easier for founders to keep control after listing and reduce the amount of equity a company must sell to outsiders. The changes would bring the City more in line with New York and Hong Kong.
Deliveroo kicked off its IPO on London’s standard segment Monday with a dual-class share structure, effective for three years. And the City still appeals to foreign issuers: Denmark-based Trustpilot also confirmed its plans to float in the U.K. Monday, while Russian discount retailer Fix Price Ltd. wrapped up a $1.7 billion offering on Friday.
Source: BNN Bloomberg
By Swetha Gopinath
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