030401

~~~~~((#))016003000f-IPOs, Listings, Delistings

Britain's IPO market remains dormant

LONDON: The London Stock Exchange failed to attract a single new trading entrant to its market during the first three months of 2003 -- its quietest quarter for more than 20 years, a survey said on Monday.

The study by financial services firm KPMG showed that activity on Britain's initial public offering (IPO) market was limited to two investment trust listings, which raised a total of 14.6 million pounds ($23 million).

Companies have shied away from flotations amid the worst stock market slump in more than 30 years, and KPMG said there were no immediate signs of any recovery in the IPO sector.

"The market has been dormant since the middle of last year and shows no immediate signs of reawakening," Neil Austin, head of new issues at KPMG Corporate Finance, said in a statement.-Reuters