There were six Northern company IPOs on the London Stock Exchange’s main and AIM markets in the first quarter.
The listing of Manchester-headquartered Auto Trader, which raised £1.36bn, was the largest and made up the lion’s share of the £1.61bn generated by Northern company IPOs.
There were 16 listings in total across the main and AIM markets in the first quarter of 2015, raising cumulative funds of £2.67bn, down 55 per cent on the £5.98bn generated during the first quarter of 2014.
The fall followed decreased AIM activity and a decline in main market values.
On the main market, there were 10 IPOs over the first three months of 2015 – up from seven in the first quarter of 2014 – raising £2.62bn.
Four of these were Northern firms, including Auto Trader, Doncaster-based DFS Furniture, Sunderland-based SCS Group and Manchester-based Revolution Bars Group.
Northern businesses Premier Technical Services Group (Castleford) and Redx Pharma (Merseyside) collectively raised £23m, contributing almost half of the £48m of funds raised across six IPOs on AIM in the first quarter.
David Buckley, partner and IPO leader at EY in Yorkshire and the North East, said: “In what is traditionally a quiet period for IPOs, the first three months of this year benefited from a high number of businesses keen to float on the main market before the General Election in May.”