UK Turns To Goldman Sachs To Revive IPO Market
UK Turns To Goldman Sachs To Revive London’s Struggling IPO Market
Once the world’s top listing hub, London is now asking Goldman Sachs for help as its IPO market hits the lowest level in more than 30 years.
UK Government Partners With Goldman Sachs To Boost IPO Activity
The UK government is working with Wall Street to restore London’s fading appeal as a global listing destination.
Chancellor Rachel Reeves and Anthony Gutman, a senior investment banker at Goldman Sachs, will co-host a closed-door discussion with executives from technology and growth sectors to promote London as a viable IPO destination.
According to Bloomberg, the Treasury meeting aims to gather feedback on the UK’s competitiveness and highlight recent reforms designed to reinvigorate capital markets.
London IPOs Hit 30-Year Low, Losing Global Standing
Once a powerhouse of global IPOs, London has now fallen to 23rd place worldwide, even behind Mexico.
Funds raised dropped 69% to just $248 million, the lowest in 35 years.
The largest IPO of 2025 — accounting firm MHA Plc — raised only £98 million ($132 million). The third quarter looked even gloomier, with just $42 million in total listings, down 85% year-over-year, according to Baron Investments, citing Bloomberg data.
Goldman’s involvement in a Treasury-led event was described by rivals as “highly unusual” — but also reflects the urgency of the UK government’s response to its declining IPO activity.
As the US Booms, London Struggles
Across the Atlantic, the US IPO market is booming, fueled by crypto and AI-driven companies.
According to Barchart, US exchanges raised $28.3 billion through 156 IPOs in the first half of 2025, while London managed only £160 million ($215 million) — the weakest performance since 1995.
Companies like Circle Internet Group, Bullish, and Figure Technology have seen their shares surge after listing, reinforcing the US as the new global capital magnet for founders seeking liquidity and high valuations.
Why London Is Falling Behind
Analysts point to multiple structural issues behind London’s decline:
- Complex regulations and high stamp duties
- Strict ESG and DEI requirements
- Excessive bureaucracy that slows innovation
Crypto analyst Quiten.eth commented:
“Innovation in the EU is killed by regulation before it even begins. They destroy potential by over-regulating what doesn’t need it.”
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