'Tough markets dissuade firms from floating'

The number of companies floating on the London Stock Exchange slumped in the last quarter as companies were put off by tough market conditions, a survey showed today.

PricewaterhouseCoopers’ survey of initial public offerings (IPOs) showed the number of new listings in London fell from 34 in the fourth quarter of 2001 to just 16 in the fourth quarter of last year.