IPO funding soars in 2010: London Stock Exchange

December 30, 2010 | 11:33

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Funding for initial public offerings on the London Stock Exchange soared by nearly 600 per cent in 2010 compared with the previous year, it said in a statement on Wednesday.

The IPOs, including from India's Essar Energy and African Barrick Gold, raised a total of 10.1 billion pounds (11.8 billion euros, $15.5 billion). That compared with just 1.5 billion pounds in 2009, the London Stock Exchange said.

"The total money raised by IPOs during the year reached 10.1 billion pounds, a 573 per cent increase on 2009, with the number of IPOs joining the Exchange's markets more than quadrupling" to 89 from 22, the LSE added.

The Exchange runs a number of equity markets in the British capital including the benchmark FTSE 100 index.

"Whilst last year our markets supported a significant amount of fundraising through further issues, 2010 injected some very positive signs of life into the new issues market, including a number of major wins for London," said Tracey Pierce, a director at the London Stock Exchange.

AFP

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