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Private exchange won’t solve IPO drought, critics say

Questions remain about whether growth companies will make the leap to list, and whether the London Stock Exchange should hold all the power

By Jeremy Chan
Pisces was one of a host of initiatives to kickstart capital markets in Jeremy Hunt's Budget, but could end up falling flat
Pisces was one of a host of initiatives to kickstart capital markets in Jeremy Hunt's Budget, but could end up falling flat Photo: Hollie Adams/Getty Images

London's IPO drought will continue despite the launch of a new exchange to help growth companies float, according to critics.

The UK government announced it was pressing ahead with a Private Intermittent Securities and Capital Exchange System, known as Pisces, in the 6 March Budget.

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