The London stock market is in crisis. This isn’t a momentary wobble, it’s a slow bleed that risks turning terminal. Some of our most well-known publicly listed companies are ditching the UK in favour of the US - firms like Flutter, Arm and Wise - for better valuations, deeper capital pools and a more supportive investing culture. Meanwhile, the pipeline of new UK listings has stalled. In 2024, 88 firms left the market while just 18 joined.
We’re also seeing private equity snap up some of the UK’s most promising companies, businesses that might once have gone (or remained) public here but now see a London listing as plan B or even C. In recent months Alphawave, Peak AI - and, just this week, Spectris - have all been sold to foreign buyers. These are companies at the forefront of innovation, especially in fields like AI. They should be fuelling UK growth and boosting our public markets - not being sold off early for a fraction of their potential.
