London equity decline persists; £9 trillion savings must fuel IPO revival
This digest was compiled by AI from multiple sources — links to the originals are below.
UK-listed companies are disappearing at an accelerating pace through private equity buyouts and relocations to New York, while new London listings remain scarce. Recent reforms target the decline, but a lasting recovery requires deploying the country’s £9 trillion in savings more effectively.
Key Facts
- London was outside the top five European countries by IPO deal value in the year to date and has not held the top spot since 2021.
- The two largest European IPOs in 2025 and 2026 — Verisure and CSG — took place in Sweden and Amsterdam, respectively.
- Intertek, a UK-listed company valued at £9 billion, was acquired by private equity in 2026.
- Widely used trading volume figures miss roughly two-thirds of UK off-exchange activity in dark pools and other venues, according to the Financial Conduct Authority.
The De-equitisation Trend
UK-listed companies are disappearing at an accelerating rate through private equity buyouts and relocations to New York. Fewer companies are floating on the London Stock Exchange, making the UK trend particularly stark. Buyout activity continued in 2026 with Intertek, valued at £9 billion, succumbing to private equity. The two largest European IPOs in 2025 and 2026, Verisure and CSG, listed in Sweden and Amsterdam respectively. London was not among the top five European countries by IPO deal value so far this year and has not been number one since 2021.
Reform Agenda and Savings
Recent political and regulatory reforms aim to make London more attractive to future IPO candidates. A Financial Conduct Authority initiative challenges the view that UK trading volumes are thin. The watchdog said roughly two-thirds of trading activity happens off the main exchange through dark pools and other venues. Regulators have loosened investor protections, a more controversial component of the Save the City campaign. A lasting recovery requires better use of the country's £9 trillion in savings.
1 source
London equity decline persists; £9 trillion savings must fuel IPO revival
