Companies raised a record £23.7 billion through new and further issues on the London Stock Exchange’s markets during May, the most money ever raised on the Exchange’s equity markets in a single month. This was nearly three times the £8.6 billion raised during May 2007 and double the £11.2 billion raised during July 2006, the previous record month.

Tracey Pierce, Head of Equity Primary Markets, London Stock Exchange Group, said: “May was dominated, in terms of money raised, by a handful of major rights issues, but it was also a lively month on the IPO market, with a number of firsts for the Exchange, including our first Mexican issuer, our first Kuwaiti company and our first Specialist Fund Market flotation. These record totals underline the attractiveness of our equity markets compared with other sources of financing, while the sheer diversity of companies that have conducted successful fundraisings in the last month is testament to the choice of markets available on the Exchange to a wide array of global companies with differing needs.”

May’s record fundraising included:

* Rights issues from Royal Bank of Scotland, Imperial Tobacco and Groupe Eurotunnel, raising £12.2 billion, £5.0 billion and £415.2 million respectively

* 392 further issues, raising £19.5 billion between them

* 25 new issues raising £4.1 billion between them

* £20.7 billion raised by UK incorporated companies

* £3.0 billion raised by overseas incorporated companies