Smart meter company Calisen gains 4% on London debut

) gained 4% on its stock market debut on Friday, providing encouragement for other companies eyeing a London listing after a bruising 2019.

In the process, it became the first British company to complete a listing on the main London Stock Exchange since Trainline in June last year.The successful completion of the deal and positive aftermarket should provide encouragement for other IPO hopefuls, bankers said. European IPO volumes hit their lowest level in seven years in 2019 and the London market for new listings had a particularly dire time of it in the second half on the back of Brexit uncertainty and Britain’s December general election.No British company attempted an IPO after the summer and China’s SDIC Power, Indian special effects business DNEG and Kazakh finance company Kaspi.kz all made high-profile cancellations after announcing deals.

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