Initial public offerings are having a hard time in most major markets but the slump is especially pronounced in London, as its steep valuation discount deters new listing candidates and sends other companies to the exit. “The challenge remains absolutely to attract some of the bigger tech IPOs,” said Ariel White-Tsimikalis, Capital Markets partners. “When the IPO market reopens, I think we’ll see a continuation of the trend that we saw in 2021 of more high-growth companies choosing to list in London.”