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🇪🇺EUR/USD1.0842+0.08%•
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NVDA212.06+2.30%•
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GOOGL342.09−1.46%•
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IPO Track Record

IPO History & Success Stories

A look at how landmark listings have performed, what the LSE pipeline has raised over the past seven years, and the sector mix behind those flows.

LSE capital raised (2019–25)
£40.7B
Across new listings
Global IPOs tracked
1,200+
US + AU + NZ pipeline
Average day-one return
+18%
Where oversubscribed
12-month IPO win rate
63%
Positive vs issue price

LSE capital raised by year

2019
£6.6B
2020
£8.9B
2021
£12.3B
2022
£1.1B
2023
£0.9B
2024
£4.1B
2025
£6.8B

Source: LSE Group monthly activity reports (aggregated). Figures rounded.

Sector mix of LSE IPOs (2019–2025)

Materials & Mining
32%
Technology
22%
Healthcare & Biotech
14%
Financials
12%
Consumer
10%
Energy
10%

Lessons learned

  • Discipline on price beats FOMO. The best-performing 2020–24 IPOs were priced within, not above, the marketed range.
  • Float size matters. Small free-floats amplify volatility in the first 90 days — size positions accordingly.
  • Lock-up expiries are catalysts. Watch the 90 / 180-day cliffs; supply overhang is real.
  • Sector matters more than the deal. Cohorts move together — a good business in a hated sector rarely rerates alone.

Case studies

CompanyListedIssueDay 1 close12m returnNotes
Airbnb
ABNB
Dec 2020US$68US$144.71+38%Post-COVID travel rebound and durable take-rate expansion powered the multiple rerating.
Snowflake
SNOW
Sep 2020US$120US$253.93+79%Landmark software listing; consumption model rewrote the SaaS growth playbook.
CoreWeave
CRWV
Mar 2025US$40US$40.00+120%AI-infrastructure pure play — the reference trade for the 2025 cohort.
Reddit
RDDT
Mar 2024US$34US$50.44+95%Data-licensing narrative plus retail engagement lifted valuation above IPO comps.
Life360
360
May 2019 (LSE)£4.79£4.79-58%Cautionary tale — early LSE listing weakness before eventual US dual-listing rerating.
Guzman y Gomez
GYG
Jun 2024 (LSE)£22.00£30.00+42%Largest LSE consumer IPO of 2024 — priced conservatively and traded materially higher.

Past performance is not indicative of future performance. Case studies are illustrative; individual client outcomes will differ.

Want IPO allocations, not just IPO history?

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