LSE CEO: IPO Pipeline Strongest Since 2005

London's stock market has faced a challenging period, with the number of listed companies dropping to a decade low of 1,534 in May 2026, down from 2,429 in 2015. This decline has been attributed to factors like a smaller domestic investor base and depressed valuations, making companies attractive for foreign takeovers.

To counter this trend, the London Stock Exchange (LSE) has undergone significant reforms since 2021. In 2024, U.K. listing rules were rewritten to ease acquisition processes and give founders more post-listing control. Additionally, regulatory burdens on AIM, the junior market, were reduced, and a new secondary market, Pisces, was created.

LSE CEO Julia Hoggett maintains that these reforms are yielding positive results. She points to an increase in acquisitions following the rule changes and greater utilization of AIM's revised rules by smaller companies. While the total value of U.K. M&A more than doubled to £124.2 billion in the first half of 2026, the number of deals decreased.

Hoggett expressed optimism about the future, citing the largest IPO pipeline since 2005 as evidence of recovery. She emphasized the U.K.'s capacity to foster world-leading companies, noting Britain's significant contribution to the global number of billion-dollar startups.