IPO maket boosted by 2003 activity
The IPO market continued to recover in the final quarter of last year, figures from PricewaterhouseCoopers reveal.
A high volume of activity on London’s smaller companies market, AIM, fuelled the recovery.
In the final three months of the year, there were 67 IPOs – a massive increase of 103% on the previous quarter when there were only 33.
However, the total offering value was down from £1.88bn to £1.78bn. Three of the largest four IPOs were in London with two overseas companies -Vedanta Resources, an Indian mining company and Bermudan insurance firm Alea Group – coming to the main market.
At the same time, Centerparcs went to AIM.
Tom Troubridge, head of PwC’s London Capital Markets Group, said the IPO market was ‘open for the right kind of business’ during 2004.