IPO market bounces back

The amount of money raised in UK initial public offerings this year is 500 per cent up on 2009, with investors pumping £10.1bn into 89 companies listing on the London Stock Exchange's main market or on the Alternative Investment Market.

While many of the flotations have subsequently disappointed investors who backed them, the figures, published by the LSE yesterday, nevertheless represent a remarkable turnaround on the previous year.

In 2009, just 22 companies were able to raise money with IPOs totalling only £1.5bn. Tracey Pierce, the director of equity primary markets at the LSE, said: "2010 injected some very positive signs of life into the new-issues market, including a number of major wins for London."