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Corporate stock market rise propels the London Stock Exchange to its best start to the year since 2006

  • Deliveroo, Dr Martens and Moonpig were among 25 companies that raised $ 7.17 billion in their early days
  • It was the highest in 15 years, just under $ 7.24 billion in the first quarter of 2006
  • It was also the highest number of floats since 2015, when 29 companies went public.

The corporate rise in the stock market propelled the London Stock Exchange to its best start to the year since 2006.

Deliveroo, Dr Martens and Moonpig were among 25 companies that raised $ 7.17 billion when they debuted on the London Stock Exchange (LSE) in the first three months of 2021.

This was the highest amount in 15 years, just under $ 7.24 billion in the first quarter of 2006, and included both main market and alternative investment market quotes.

A good sign: Deliveroo, Dr Martens and Moonpig were among 25 companies that raised $ 7.17 billion when they started out

It was also the highest number of floats since 2015, when 29 companies went public. The trend is expected to continue. Cambridge-based cybersecurity group Darktrace valued at $ 2.2 billion is preparing a listing this year and online pension firm Pension Bee is expected to float this month.

But Deliveroo’s much-vaunted debut last week turned into an embarrassing flop that left retail investors backing the take-out group suffering heavy losses.

Its shares fell 390p when it launched to 282p at Thursday’s close, indicating investors believe it was overvalued and faces challenges on issues such as employee rights. Data from the LSE showed that 10 of the 25 floats were from tech and mainstream internet companies.

Online card retailer Moonpig raised 540 million when it debuted in February, while Danish site Trustpilot raised 473 million.

One of the favorites of punks, students and skinheads of the Thatcher era, Dr Martens shoe brand has gone from its $ 1.5 billion float straight to the FTSE 250.

Smaller businesses include the Cellular Goods cannabis group backed by David Beckham and the Parsley Box meal delivery group. Many have suspended plans to float amid the turmoil caused by the pandemic.

They were also cautious ahead of Brexit, which took place on December 31, in case it disrupted the trading rules. The 25 announcements in 2021, compared to eight in 2020 and five in 2019.

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