Barclays and Aquis Launch Exclusive 'IPO Academy' to Revive Small-Cap Market
In a strategic move to address the declining number of small-cap listings in the UK, Barclays and Aquis have unveiled a groundbreaking "IPO academy." This initiative, revealed exclusively by City AM, represents the only such program operated by an exchange in the UK, aiming to invest in entrepreneurs and reinvigorate capital markets as a catalyst for new listings.
Comprehensive Support for Growing Businesses
The academy's six-month program is designed to provide participating companies with a robust suite of resources. Scale-ups across all sectors with annual turnover exceeding £1 million will be eligible, gaining direct access to investors, expert mentoring in finance, governance, and regulation, as well as pitch development support. Additionally, the program offers discounted admission fees and pre-eligibility assistance for those opting to list on Aquis, empowering founders to navigate public markets with greater confidence.
David Stevens, chief executive of Aquis, emphasized: "The UK boasts abundant ambition and entrepreneurial talent. By delivering early engagement, targeted education, and practical support, we can guide more high-potential businesses through their growth phases and encourage them to remain in the UK."
Addressing Market Challenges
This launch comes during a difficult period for London's small-cap stock exchanges, marked by a scarcity of new listings and an increase in delistings or private equity acquisitions. Companies exiting the market have pointed to high costs, subdued valuations, capital-raising difficulties, and liquidity shortages as key factors. Notably, the number of constituents on Aquis's rival, AIM, plummeted to fewer than 700 by the end of 2025—less than half its peak of around 1,700 in 2007 and only slightly above levels at the turn of the century.
Focus on Diversity and Innovation
The Barclays-backed program will prioritize tech-enabled and women-founded businesses, with a goal of achieving 50% female-founded participation. This focus is critical, as only about 7% of UK high-growth IPOs since 2011 have been led by female-founded companies.
Abdul Qureshi, head of Barclays Business Bank, stated: "The transition from private to public markets is a powerful driver of innovation and growth. However, many promising UK businesses lack the knowledge, networks, and capital to take this step confidently within the UK."
By combining educational resources with financial incentives, the IPO academy aims to transform the landscape for small-cap listings, fostering a more dynamic and inclusive market environment in the UK.
