London IPOs Shrink to Fraction of European Total in Dismal Year

London’s share of proceeds from European initial public offerings has fallen to the lowest since 2009, in another sign of the UK’s shrinking place among global financial markets.

According to data compiled by Bloomberg, listings in London have raised just £1.5 billion ($1.8 billion) this year, accounting for 9% of the European total of $20.9 billion. That’s the lowest percentage of proceeds since the global financial crisis, when the UK capital contributed just 2% of all European IPO volumes.

The poor showing underlines London’s struggle to maintain its status as a global financial center since Brexit. The political and ...