Fundraising from London IPOs slumped to at least a three-decade low in the first half of this year, new data showed on Friday – raising fresh questions about the fading allure of the U.K. as a hub for global capital.

The five debuts on the London market in the first six months of 2025 raised a total of £160 million ($218.6 million), according to new data from Dealogic.

That’s the lowest level of London IPO funds raised in the first half of the year recorded by Dealogic since it began collecting data in 1995.

Even in the aftermath of the 2008 financial crisis, two London IPOs managed to raise £222 million in the first half of 2009, the data shows.

London’s biggest IPO so far this year was the listing of professional services company MHA