London exchange hosts $5 bln IPOs in a month

By Daisy Ku

LONDON, May 14 (Reuters) - The London Stock Exchange (LSE.L: Quote, Profile, Research) has seen seven international companies raise a combined $5.1 billion in initial stock offerings between April 22 and May 14, a sign of a revival in the IPO market.

"[This is] an excellent indicator of the health of our international pipeline," said Tracey Pierce, head of equity primary markets at the LSE.

By comparison international issuers raised just 628 million pounds ($1.2 billion) between Jan. 1 and April 21 on the LSE's main market and alternative investment market (AIM) due to market turmoil.

The exchange, which recently started marketing in Latin America, won its first ever initial public offering from Mexico in the $1.77 billion offering by silver miner Fresnillo (FRES.L: Quote, Profile, Research).

"Fresnillo is a good example of the increasing number of companies from the region seeking global capital to fund their international growth," Pierce said.

Czech coal miner New World Resources (NWR) NWRW.L (NWRSsp.PR: Quote, Profile, Research) NWRS.WA raised $2.15 billion through a listing on the LSE and exchanges in Prague and Warsaw in May.

"By choosing to take primary listings, both Fresnillo and New World Resources have committed themselves to the most exacting regulatory standards in Europe and to providing investors with clear information about their corporate governance practices," said Pierce.

Listing fees account for about 12 percent of the London bourse's revenue.