This has been the worst start to a year for stock market flotations since 2009 in the US and Europe, according to figures from Dealogic, with plunging equities prices bringing share-sale debuts grinding to a halt.
Not a single firm has floated in the US so far this year. Only three firms have floated in Europe, raising just $24m.
By contrast in January 2015 a total of 14 firms floated on the US markets in deals valued at just over $2bn, while seven deals in Europe raised $691m.
The year before that, in January 2014, a record amount of money was raised on US equity markets, with 18 IPOs fetching just short of $6bn, while IPOs in Europe yielded $2.5bn in six flotations.
The figures will make for sobering reading for executives of Clydesdale and Yorkshire Bank and Metro Bank, which are both planning flotations for February.
Clydesdale and Yorkshire is being sold by its foreign parent the National Australia Bank, which has made it clear that it wants to sell the British lender almost regardless of market conditions.
Metro Bank hopes to defy the market slump and earn a £2bn valuation when it floats towards the end of next month Photo: GEOFF PUGH
As a result it has set a very wide price range for the shares, valuing the bank at anywhere from £1.5bn to £2bn.
Only a 25pc stake is up for sale in the flotation, with shareholders being given the remainder of the newly independent lender.
Meanwhile Metro Bank, which found fame as the first high street bank to win a licence in the UK in more than 100 years when it launched in 2010, claims to be undeterred by the state of markets.
It hopes to achieve a valuation of £2bn. Sources say demand in the latest private fundraising round was high, even though the bank has yet to turn a profit.
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