Market Tracker trend update: IPOs in Q3 2020

Market Tracker trend update: IPOs in Q3 2020

Lexis®PSL Corporate and Market Tracker has conducted research to examine the current trends in IPO activity between 1 July 2020 and 30 September 2020.

Background and approach

This Market Tracker update reviews IPO activity between 1 July 2020 and 30 September 2020 (Q3 2020), using data from Q1 – Q2 2020, 2019 and 2018 for comparative purposes. It looks at IPOs on AIM and the Main Market (both premium and standard listings). We reviewed a total of 142 companies that were admitted to trading during this period (82 on the Main Market and 59 on AIM), and an additional 13 that were announced during 2020 but had not, at the time of writing, completed an IPO. Introductions and transfers between markets were not included in our data set, but we included companies listing GDRs on the Shanghai-London Stock Connect.

Data for this report has been sourced from the Market Tracker transaction data analysis tool which allows users to access, analyse and compare the specific features of corporate transactions. This is an update to our ECM UK Trend Report, which reviewed IPO activity and emerging trends in 2019/H1 2020.

The percentages included in this report have been rounded up or down to whole numbers, as appropriate. Accordingly, the percentages may not in aggregate add up to 100%.

The final date for inclusion of developments in this report is 30 September 2019. Reference has been made to developments after this date if considered noteworthy.

Transaction highlights

  • 2020 has been a quiet year for deals, but activity across AIM and the Main Market combined bounced back in Q3 to the same volume as in Q1 2020
  • Q3 transaction volume has declined on the Main Market in comparison to the same period in previous years, while the volume of AIM IPOs in Q3 has increased
  • A standard listing is emerging as a more popular option than a premium listing, with all companies admitted to trading on the Main Market in Q3 2020 opting for a standard listing
  • Companies joining

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About the author:

Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.