IPO exercise on the London Inventory Change remained subdued within the third quarter of 2025 with solely three new listings – however a stronger IPO pipeline for the primary half of 2026 suggests confidence is returning to the UK’s fairness markets.
Between July and September 2025, the three listings on the AIM raised £16.3m in complete. For 2025 year-to-date, there have been 12 listings on each the primary market and AIM, elevating virtually £200m. This represents a 65.6% lower in proceeds in comparison with the £579m raised throughout the identical interval in 2024.
“The UK IPO market has largely remained in ‘wait and see’ mode all through 2025 as firms navigate the repercussions of extended geopolitical and macroeconomic instability,” says Scott McCubbin, UKI IPO chief at EY-Parthenon.
“Nonetheless, we’re beginning to see a shift in sentiment with a number of massive IPOs already confirmed this month. Momentum is now constructing and the IPO pipeline for the following six to 12 months is strengthening as market circumstances enhance, with potential firms eager to maneuver when the pricing window opens.
McCubbin says London’s depth of capital, worldwide investor base and powerful analyst ecosystem proceed to underpin its enchantment as a list venue, at the same time as world competitors for IPOs intensifies.
“The outlook for the rest of the 12 months can be formed by how firms navigate competitors between non-public and public markets and the backdrop of geopolitical uncertainty – with timing and pricing remaining the decisive elements for profitable listings,” he provides.
Trying worldwide, the worldwide IPO market confirmed indicators of a restoration in Q3 with 370 offers elevating roughly US$48.2bn. Deal volumes elevated by 19% and proceeds have been up 89% year-on-year. In complete, the primary 9 months of 2025 noticed 914 IPOs globally elevating US$110.1bn.
This week, The Magnificence Tech Group, a Manchester-based agency that owns a bunch of magnificence remedy expertise manufacturers, listed on the London Inventory Change with an preliminary market cap of £300m. The itemizing noticed the agency increase £29m.
Based in 2009 below the title CurrentBody, The Magnificence Tech Group now owns a portfolio of manufacturers together with ZIIP Magnificence and Tria Laser and has a presence in over 80 nations.
