So far, 2017 has been a relatively good year for new market listings in London but, on Friday, two companies have announced the withdrawal of their planned flotations. Could the outlook for new London listings be starting to darken?
While 2017's initial public offerings (IPO) market in London is nothing to set the Stock Exchange alight compared with three years ago - London's post-crisis peak - volumes are up on last year.
In the third quarter alone, 27 IPOs on the London Stock Exchange have raised £2.41bn compared to just nine in the same quarter of 2016 that raised £278.2m.
The July-September period was London's most active third quarter by volume since 2011 when 29 IPOs raised just shy of £1bn.
In Europe, the pace of IPOs is still gathering momentum as market-friendly policy from the European Central Bank, strong economic progress and benign inflation combine to create the perfect conditions for new equity flotations.
Two London IPOs shelved
In the UK, however, the environment is beginning to get a little more clouded.
On Friday, less than 24 hours after the Bank of England announced a quarter-point increase in its main bank rate to 0.5%, two companies have pulled out of their upcoming IPOs.
Food manufacturer Bakkavor was poised to offer shares on the AIM market to raise about £100m this month, but on Friday shelved its plans.
Its statement said: "While the company received sufficient institutional demand to cover the offering, the board has taken the decision that proceeding with the transaction would not be in the best interests of the company, or its shareholders, given the current volatility in the IPO market.”
Also on Friday, TV and mobile infrastructure company Arqiva "postponed" plans for a £6bn listing.
It said: "The board and shareholders have decided that pursuing a listing in this period of IPO market uncertainty is not in the interests of the company and its stakeholders, and will revisit the listing once IPO market conditions improve."
And just last month private equity group Doughty Hanson withdrew the planned London IPO of its business services firm TMF Group in favour of a £1.56bn sale to rival private equity company CVC Capital Partners.
So, what are the uncertainties they appear to fear? And is it merely a coincidence that they've pulled their planned listings so soon after the Bank of England move?
Commenting on waning business confidence shown in recent purchasing manager surveys, Chris Williamson at IHS Markit explains these uncertainties.
"The drop in future optimism to its lowest for over a year highlights the fragility of business confidence, and underscores the vulnerability of the economy amid the heightened uncertainty surrounding the Brexit process."