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Opportunity in uncertainty

UK Equity Capital Markets update

Spring 2017

Welcome to our Spring update on UK Equity Capital Markets. The first quarter of 2017 ended with the FTSE 100 near all-time highs and stockmarket volatility close to its all-time low.

However, given geopolitical uncertainties, investors remain wary after eight years of a bull market. That said, the IPO pipeline for the remainder of the year appears strong but if volatility and uncertainty continue to rise, its robustness could be tested.

ECM Update

In our latest update, ‘Opportunity in uncertainty', the Deloitte ECM team provides commentary on recent equity market activity and macro-economic considerations as the UK invokes Article 50 and the world deals with increased global political and economic uncertainty.

We focus on how best to approach, recruit and incentivise a Board at IPO and include a guest piece from recruitment experts Odgers Berndtson. We also provide a case study of the Xafinity IPO, which was the first Premium listed IPO in 2017 and was deliberately executed with a very low public profile.

Finally, we include the Deloitte IPO Barometer which has been well received in press IPO coverage over the last few years and looks at the performance of IPOs against the broader market – demonstrating that recent IPOs have outperformed the FTSE 350 on average.

The Deloitte IPO Barometer

About the team

The ECM team comprises people from our Financial Advisory, Audit, Tax and Consulting businesses with varied backgrounds including accounting, law and investment banking to provide a multi-disciplinary service model. Together they have worked on over 50% of UK Premium trading company IPOs since the beginning of 2014 across multiple industries.

The team can provide a wide variety of services including Reporting Accountant, acting as Sponsor, Nomad or Independent Adviser, advising public companies on the Takeover Code in relation to M&A, providing executive remuneration advice and both Readiness and Assist work to prepare for and to support an IPO. Please do get in touch if we can be of assistance.

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