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UK ECM 2022: IPOs, secondary fundraisings, SPAC trends and regulatory developments on the Main Market and AIM

Practice notes
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This Practice Note is archived and no longer maintained or updated. It reviews market patterns in IPOs and secondary offerings on the Main Market and AIM in 2022. For deeper analysis and extra insight into UK ECM developments from our external contributors, see our Market Standards UK ECM Trend Report 2022. The IPO dataset omits introductions and transfers between markets, unless otherwise stated. Market capitalisation has been determined using the closing price on the day of admission as quoted by the London Stock Exchange plc. Companies issuing GDRs are excluded from the market capitalisation figures for this dataset. The secondary offer review covers transactions raising £10m or more, excluding transactions by closed ended investment companies for the purposes of this analysis.

IPOs

After the record tallies achieved in 2021, the total number of IPOs fell markedly in 2022 (a trend also observed globally and more broadly). It was a testing year overall, with just 45 IPOs completing, a 64% decrease from 2021 but comparable with the volume seen in 2020.

Main Market IPOs

Thirty-three Main Market IPOs completed in 2022 in total, a 43% fall from 2021, which saw 58 Main Market IPOs in that year...

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Web page updated on 22/05/2026

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