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Record Year For North American IPOs in London

22 February 2022
US and Canadian companies are increasingly going public in London. In a record year for IPOs, London was at the heart of the action. London Stock Exchange has more international companies listed than any other exchange and the Americas is now the largest source of foreign equity listings in London.

London Stock Exchange supports issuers and provides access to capital from a high-quality institutional investor base at a lower cost versus US exchanges, with a notable focus on companies in the $50m – $2bn market cap range. For companies already listed in Canada, we offer access to a deeper investor base with limited additional requirements.

2021 highlights include:

  • 23 Americas listings raised $2.4bn with a combined market cap of $13.8bn at admission
  • Americas listings up an average of 25% from listing date to year end
  • The record for the largest US listing on London’s AIM market was broken twice by tech companies – first by Seattle’s TinyBuild followed by Austin’s Devolver Digital with c. $1bn market cap. Both had significant sell down at IPO by existing shareholders
  • Largest North American tech IPO in London ever – Canada’s Alphawave IP Group
  • 5 North American life science IPOs including Belluscura, one of the top 3 performing AIM IPOs in 2021
  • 3rd largest London 2021 investment fund IPO originated from Canada – Cordiant Digital Infrastructure
  • 6 companies cross listed to London from Canadian exchanges, including the $6bn listing of senior gold producer Endeavour Mining
  • Energy transition is an emerging trend. In 2021, we saw IPOs from US focused Bradda Head Lithium, Chile based Great Southern Copper, and Paraguay green hydrogen company ATOME Energy
  • London Stock Exchange named Sustainable Stock Exchange of Year for 2nd year running by Environmental Finance magazine
  • US-focused lobbying firm Public Policy Holding Company broadened our IPO sector exposure into professional services with its $41m IPO at a $194m market cap

If you are a founder, C-level executive, VC/PE investor, or company advisor looking for a liquidity and/or growth capital alternative, please contact Chris Mayo, or Wendy Huang, with any questions or for help navigating the London listing process.

Chris Mayo, CFA
Head of Primary Markets, Americas
London Stock Exchange plc.

Wendy Huang, CFA
Business Development Manager, Primary Markets, Americas
London Stock Exchange plc.


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