London listings fall to lowest levels since 2023

London listings fell to the lowest levels seen since 2023, recording just one public offering in the third quarter as the IPO drought continues. The quarter’s sole transaction was the AIM listing of 1947 Oil Gas plc, which raised just £29.8m, marking it as the quietest period since the fourth quarter of 2023 where no companies listed, according to the latest analysis from EY. The transaction brings the total number of UK listings in the first nine months of 2026 to just eight, raising £606.9m. Uzbekistan’s national investment fund Uznif has been coined the only one of note, after listing a 30 per cent stake in London and Tashkent in May. London received a shot in the arm this quarter as African payments firm Airtel Money debuted on the stock exchange this week, valued at £5.3bn. But despite the low volume of floats, capital raised increased significantly from the £199.1m recorded the same period in 2025. Scott McCubbin, UKI IPO leader at EY, said the lack of listings r