2023 is likely to see several high-profile names float on the London Stock Exchange, according to Investec, marking a potential revival after last year’s lows.
Internet banks Starling, Revolut and Monzo were among 12 big names anticipated to float by Investec, alongside automotive firms Jaguar LandRover and McLaren Group.
List of firms Investec expected to float:
- Starling Ltd
- Revolut Ltd
- Monzo Bank Ltd
- Jaguar Land Rover Automotive PLC
- McLaren Group Ltd
- Virgin Atlantic Ltd
- BrewDog PLC
- Huel Ltd
- Dowlais Ltd
- EG Group Ltd
- Zopa Ltd
- Snowfox Group PLC
Consultancy Beauhurst also predicted in January that Stripe, InstaCart and Klarna were likely candidates to list in London this year, alongside nine others, including fintech firm Blockchain.com.
Renewed interest in London would come as fears grow over the market's health, with firms such as Shell PLC (LSE:SHEL, NYSE:SHEL) and Flutter Entertainment PLC (LSE:FLTR) reportedly looking to move primary listings abroad.
AJ Bell analyst Russ Mould claimed Brexit had a key part to play in making the UK less of an appetising option for companies, alongside Liz Truss's brief, but albeit impactful time in charge.
Just 45 companies listed in London in 2022, raising £1.6bn compared to £16.3bn a year earlier, as per data from LSE.
Ming Yang Smart Energy Group Ltd raised the most at £546mln, while Ithaca Energy was the only other fresh face to raise over £200mln.
Despite the potential resurgence in UK listings, Investec pointed out that just 26% of the 12 companies’ board positions were filled with women, highlighting the lack of gender diversity in UK PLC.
“From our experience, public limited companies would be wise to do more to tap into this huge pool of talent,” Investec investment director Michelle White said, referencing a “huge growth” in the number of its female clients.