Hargreaves Lansdown's Derren Nathan: How London can regain its competitiveness against other stock exchanges

'Still work to be done'

Last year saw fewer companies arrive on the London Stock Exchange than any other time in over a decade.

Despite extensive simplification of the listing requirements throughout 2024 and a rebound in activity during Q4, 2025 is yet to see the IPO floodgates reopen. Measures such as a less burdensome prospectus regime and a fast track for companies looking to establish a dual listing in London are welcome steps in the right direction, but they are not going to be a panacea. The US, which saw proceeds from new issues spike 48% to $33bn last year, is increasingly seen as the destination of choice for high-quality listed companies, despite being no light touch on regulation either. Friday ...