UK companies joining the Main Market raise over £1 billion in July

  • Ocado IPO raises £215m

The London Stock Exchange today welcomed online grocery retailer Ocado to its Main Market. Ocado, which raised £215 million on admission, is the fifth company to join the Main Market this month, taking the total money raised by new UK-based companies on the market in July to over £1 billion.

In addition to Ocado, July primary market highlights include:

  • Vallar, the investment vehicle which floated on the 14 July, raised £687m at admission
  • GCP Infrastructure Investments raised £40m on the 22 July and is the first infrastructure fund of its type to float in the UK
  • Better Capital raised £67.6m when they joined the Main Market from AIM on the 8July 2010, and Entertainment One also made the move from AIM to the Main Market on the 15 July.

Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said;

“Despite testing market conditions, the London Stock Exchange continues to provide access to the deepest pools of equity finance to support the capital raising needs of domestic and international companies of all sizes and across a broad range of sectors. The money raised by companies joining the Main Market this month highlights the vital role that equity markets are playing in funding the UK's continued economic recovery.”

So far this year, there have been a total of 45 IPOs on the Exchange's markets, raising a total of over £5.5 billion. Notable international floats this year include Essar Energy and African Barrick Gold, with the London Stock Exchange remaining the world's most international capital with around 600 overseas companies from almost 70 countries on its markets.

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Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group is Europe's leading diversified exchange business, incorporating Borsa Italiana and the London Stock Exchange. With over 500 member firms and more than 3,000 companies quoted across its markets, the Group operates the largest and most liquid equity marketplace in Europe.

The London Stock Exchange itself is the world's most international exchange with around 600 overseas companies from almost 70 countries. These figures include international companies quoted on the Alternative Investment Market (AIM), the London Stock Exchange's growth market, and the world's most successful market for small and medium sized enterprises with over 1,200 companies.

The Group offers trading in a wide range of instruments, holding the number one position in the trading of exchange-traded products (ETFs and ETCs) and through its interest in MTS, is Europe’s leading platform for the trading of fixed income products. Through the Order Book for Retail Bonds and Mercato Telematico delle Obbligazioni (MOT) the Group also offers a comprehensive range of UK and European corporate and government bond trading services. Its Italian Derivatives Exchange Market (IDEM) sees over €2.5 billion worth of trading every day and through EDX London the Group provides a facility for the trading of Scandinavian and Russian equity derivatives.

London Stock Exchange Group also offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis. These include services from Monte Titoli, the Central Securities Depository for all Italian financial instruments, and Cassa di Compensazione & Garanzia (CC&G), which in July 2009 was granted Recognised Overseas Clearing House (ROCH) status by the FSA to operate in the UK.

With the acquisition of MillenniumIT, the Group encompasses a leading developer of low cost high performance trading platforms and financial markets software serving both the industry and the Group's own businesses.

Since February 2010 London Stock Exchange Group has owned a majority stake in Turquoise, a Multilateral Trading Facility (MTF) providing pan-European and US lit and dark equity trading in some 2,000 securities across 19 countries.