Yorkshire's listed companies have combined value of nearly £30bn, says London Stock Exchange Group

Bod Buckby, the regional head of UK Primary Markets at LSEG, said Yorkshire had cemented its position as a “key hotspot” for economic growth in the UK during 2022, a year that has been overshadowed by soaring inflation and political upheaval.

He added: “Today, around 70 companies from Yorkshire and the Humber are listed on the London Stock Exchange, representing a combined value of nearly £30bn. Yorkshire serves as a vital hub of innovation, incubating productive and fast-growing businesses that play a crucial role in supporting economic growth and job creation in local communities.

Mr Buckby added: "In particular, Yorkshire boasts a distinct cluster of high-growth green technology champions, such as Atome Energy, the first green hydrogen production company listed on the UK market, and ITM Power, with the largest hydrogen electrolyser factory in the world. The London Stock Exchange operates at the heart of the UK’s capital markets and is committed to supporting dynamic companies across all stages of their growth access efficient and scalable capital.

"Creating an environment that supports long term investment in these companies is key to nationwide economic growth and supporting the growth of UK productivity.

Companies which are bringing jobs and investment to the region include ITM Power, which has been listed on AIM since 2004, and raised a further £250m last year to help it grow and create high value, skilled jobs in the green economy, according to Mr Buckby.

Other companies which have prospered since making their market debut include Leeds-based Tracsis, a technology business which helps customers in the transport sector operate more efficiently.

Tracsis spun out from Leeds University and joined AIM in 2007. It was valued at £7m on IPO (initial public offering) and is now valued at £267m. Tracsis has made 16 acquisitions since the IPO.

Wakefield-based Team17, a video games developer, which employs more than 300 staff, raised £107.5m at its IPO in 2018. Its market value at the time of the IPO was £216.6m and it is now valued at £643.2m. Since 2019 it has raised £174.8m in further capital.

Yorkshire companies continued to list during 2022. Doncaster based CPH2, a developer of hydrogen energy technologies, raised £30.5m at its IPO in February. It also gained the Green Economy Mark on IPO. The mark recognises London-listed companies and funds that derive more than 50 per cent of their revenues from products and services that are contributing to objectives such as climate change mitigation and waste and pollution reduction.

Mr Buckby added: “Through its main market and growth market AIM, companies listed on the London Stock Exchange can access a diverse range of investors and an experienced advisor community, who understand the needs of entrepreneurial businesses across all sectors.”