More good news as the City triumphs “despite Brexit”

New company listings such as Dr Martens put the boot into EU competitors

Montage © Facts4EU.Org 2022

After all the reported scaremongering the City proves the pessimists wrong

The amount raised from new company listings in the UK markets in 2021 was £13.9bn – almost three times 2020 and crucially more than three times higher than pre-pandemic 2019 – the last full year BEFORE the official Brexit.

New company listings included Dr Martens plc – which raised £1.3bn – and Deliveroo – which came top with £1.5bn raised.

Massive increase in numbers for the City after Brexit

In 2019 only 35 companies listed in the City, while in 2020 that rose to 38 even during the pandemic – but these numbers were trounced by a whopping Brexit bonanza last year of 108 firms coming to market and raising nearly £14bn in capital via the City.

Brexit Facts4EU.Org Summary

New company listings in London's markets

Year and number of IPOs raised

2019 : 35
2020 : 38
2021 : 108

A total of 53 companies debuted on the City’s ‘main market’ of the London Stock Exchange, raising £11bn, against only 22 companies in 2020 and 25 in 2019. The remaining companies raised £2.9bn of capital on the junior market, AIM, with 55 companies in 2021, 16 in 2020 and 10 in 2019.

No time to relax

Now the Chancellor is helping the City beat last year’s numbers by introducing a new listing regime with rules especially designed to attract the fastest growing tech companies from around the world. City insiders insist such reforms must continue and at a faster rate, as other financial centres grow envious of the UK’s success.

Commenting on the City’s performance, Chancellor of the Exchequer Rishi Sunak said:

“It’s fantastic to see that the City remains one of the best destinations for firms to go public.”
He added that the new rules would make London:
“more open, more competitive, more technologically advanced, and more sustainable.”
Photo right: The Rt Hon Rishi Sunak MP

London's markets easily beat off EU competition

While the totals and the trend were good news for the economy and the Treasury, what was also significant was how the EU competition was left trailing despite so many Rejoiners talking-up a supposed and inevitable demise of the City.

Brexit Facts4EU.Org Summary

League table of top four European centres for Initial Public Offerings (IPOs)

Market used and funds raised

London : £13.9bn
Stockholm : £9.4bn
Amsterdam : £7.2bn
Frankfurt : £6.9bn

A leading City figure commented exclusively to Facts4EU.Org. Professor Daniel Hodson is the Chairman of the CityUnited Project and The City for Britain, and he told us:

“The City leads a highly competitive global market, but with envious Continental rivals.
“Brexit gives it massive opportunities to secure its position with quick regulatory reform, but far greater urgency and priority is needed for the earliest possible launch of a wholesale Sterling Central Bank Digital Currency to protect its core payments and settlements system from a continuing EU onslaught, not least out of Paris.”
- Professor Daniel Hodson, Chairman of the CityUnited Project and The City for Britain; Vice Chairman of The Independent Business Network. Formerly Gresham Professor of Commerce, CEO of LIFFE, Deputy CEO of Nationwide Building Society, a director of the London Clearing House and the Post Office.

At the time of writing this story had not been found on the BBC website but had been covered by City AM and This is Money (Daily Mail).

Observations

The Remainers told us London was finished if we left the EU. Well the facts speak for themselves. If left alone by the politicians to get on and do business, the City can and will prosper.

Previously the real threats to the City were coming from the meddling of Brussels bureaucrats who were continuing to devise more regulations that would tie London in knots and make it less attractive against the real competition – New York, Singapore and Hong Kong – not Frankfurt, Paris or Amsterdam.

There is still work to be done, however. Markets can go up and markets can go down – and no financial centre can ever rest on its laurels. A thorough review of regulations and laws that hold back the City – and all other UK centres of financial services – is vital and the continued relaxation of unnecessary or outdated restrictions that impede business to no benefit of stakeholders needs to proceed.

2021 was only the start – we need to see further gains for the economy in 2022.

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[ Sources: London Stock Exchange (LSE) | Federation of European Securities Exchanges (FESE) | KPMG ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Thur 06 Jan 2022

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Reader Comments 6

1. Sue Wake , Thursday, January 06, 2022, 08:00:

IF we could get a REAL Brexit we would soar

2. James Bertram , Thursday, January 06, 2022, 08:56:

The Real Story here is the remarkable rise of Stockholm (at the expense of all other European stock exchanges, including London) - although the media won't admit it, it is no coincidence that Sweden was the only country in Europe not to engage in the ridiculous Globalist 'Lockdowns' designed to damage SME's in favour of multinationals and big corporates and bring in The Great Reset:
https://www.bloomberg.com/n...
It was never about 'Health'.

3. Michael Burnhill , Thursday, January 06, 2022, 10:42:

Well we did spend four long years telling you so! Isn't it time remainers faced the truth and embraced free trade with the world!

4. G. Frum , Thursday, January 06, 2022, 11:15:

1. You've got the best version you could possibly hope for. It could have been a lot worse. Brexit is as done as it ever will be. It took a while for an oven ready deal but it is well done now. Bon Appetite.
2. You're right - it was never about health. Stockholm's rise has nothing to do with vaccinations. It is because they are actually fiscally responsible
& are immensly rich. Sweden was one of the least affected & quickest to recover nations after the 2008 meltdown.
They are one of the least corrupt countries in Europe, have highly ranked universities & are a tech driven economy. That's how it's done.
Dr Martens probably anticipated the rise of the skinhead market.

5. Theresa , Thursday, January 06, 2022, 15:29:

G. Frum, 1. How do you know? 2. What are you talking about? And which university rankings are you looking at?
Or are you just making things up / guessing?

6. jon livesey , Thursday, January 06, 2022, 19:11:

I had a good laugh at Bloomberg, the news agency, yesterday. They campaigned against Brexit ever since the Referendum - Americans like their democracy but not necessarily your democracy - and in particular they predicted the demise of the City. They actually wrote that grass would grow "between the cobble stones of Old London Town".
This week they had a story saying that the boom in the City is terrible news because it could lead to money laundering. Whether it's bust or boom it's terrible news for Bloomberg if it is connected with Brexit.

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