Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Peel Hunt hints at rebound in London IPO market after ‘difficult’ year

Losses at investment bank Peel Hunt have doubled over the past year amid ‘difficult’ financial markets (Kirsty O’Connor/PA)
Losses at investment bank Peel Hunt have doubled over the past year amid ‘difficult’ financial markets (Kirsty O’Connor/PA)

Losses at Peel Hunt have doubled over the past year, but the investment bank hinted at a rebound in the City following a slew of companies leaving the UK financial markets.

The company reported a pre-tax loss of £3.3 million in the year to the end of March, greater than the £1.5 million loss reported the previous year.

This was driven by subdued sales, inflationary pressures pushing up costs, and strategic investments made during the year, it said.

Peel Hunt cautioned that “difficult” financial markets and fewer companies launching fundraising, or initial public offerings (IPOs), had impacted its investment banking services.

A well-reported dearth of new firms listing on the UK’s public markets in recent years has led to UK ministers and the London Stock Exchange pushing to get businesses to float in London.

This month, the markets were fired up by a hotly anticipated IPO from computing firm Raspberry Pi, which is targeting a valuation of about £540 million.

Reports that online fashion giant Shein is set to file for a London stock market listing also raised hopes in the City, which could value the firm at more than £50 billion.

Peel Hunt revealed that it supported two companies with their IPOs in the London market announced this month.

“We are seeing tentative signs that a recovery from the lows of the last two years is under way,” chief executive Steven Fine said.

While the IPO market has not “fully re-opened”, UK investors are “increasingly receptive to high-quality companies,” the investment bank said.

Meanwhile, mergers and acquisitions have ramped up across the public markets as more firms place bids on undervalued UK assets.

The company said its revenues edged up by 4% to £85.8 million in the latest year.

Within its investment banking division, revenues swelled by nearly 40% year on year thanks to the uptick in merger activity and it advising more FTSE 250-listed clients.

Shares in Peel Hunt were down by nearly 5% on Thursday morning.