Once vibrant, London Stock Exchange stuck in a rut as firms flee

Listings dry up as companies opt for overseas markets or private equity

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The London Stock Exchange has lost its mojo.

The more than 300-year-old bourse is shrinking as companies opt to go public elsewhere, shift their existing listings to the US, and accept deals to be taken private.

London has been suffering from a multiyear drought in initial public offerings. The UK used to be among the top five venues for IPOs by fundraising volume, but this year fell out of the top 20, sitting behind unlikely rivals such as Mexico and Oman.

The government is trying to revive the ailing market. Chancellor of the Exchequer Rachel Reeves unveiled new measures in her November budget to encourage investment.