LONDON (WNI) — Britain’s booming tech sector saw public debuts of companies raise £6.6 billion in 2021, a doubling of the previous year.
126 companies listed in the UK last year of which 29% were within the tech industry. According to the latest figures from the London Stock Exchange, 2021’s IPO figures were more than double of 2020 (£6.6bn vs £3.1bn previously).
As the UK forges a new post-Brexit trading environment for companies and with London seeking to be more competitive on the global stage, and increasing number of IPO offerings has given the sector a boost.
A total of 37 companies went public in 2021 according to the latest government statistics, which included fintech disruptor Wise and Trustpilot among others.
Trading apps have also helped cement Britain’s unique position in the global markets with investors having more access to traded stocks, including ‘fractional shares’, increasing accessibility.
Speaking about the new figures today, Economic Secretary to the Treasury John Glen said, “The Government is working with firms, the regulators and the stock market to make the UK even more attractive for companies to list, including by reforming our listings regime following Lord Hill’s independent review, alongside broader capital markets reforms.
"This focus is why 2021 was such a great year for IPOs in the UK, especially in the tech and financial services sectors. The work does not stop here and we will continue to support the UK’s cutting-edge tech sector by making our markets even more attractive.”
High growth tech firms and AI companies are increasingly setting up their global HQs in London. In total there are 213 high growth tech companies predicted to reach a market cap of $1 billion or more in the coming years. Companies from Europe and the U.S. have recently chosen the UK to launch their IPOs in the past 2 years.