- Hot start – 2026 has begun at a hectic pace after a slow period in 2H25.
- Larger focus – There are currently two potential FTSE 100 offers, compared with a mid-cap focus last year, when there were 16 FTSE 250 offers and 25 offers for smaller companies.
- IPOs vs M&A – IPO activity improved materially last year, but there were still only six IPOs of >£100m market cap vs 41 bids.
There has been considerable regulatory and policy change to enhance the attractions of being listed in the UK, and there is a clear change in momentum. To ensure this is sustained, proactive measures to increase domestic investment in UK companies will be needed.
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