London Stock Exchange Monthly Market Report For June 2002 - Daily Average Number Of Trades On Sets Exceeds 100,000 For The First Time - IPO Volumes Rise Compared With June 2001

Trading on SETS, the Exchange's electronic order book, continues to grow. For the first time in any month since its launch in October 1997, the daily average number of trades on SETS exceeded 100,000. In June 2002 there were on average 102,421 trades per day, 64 per cent more than June 2001 when there were 62,354.

The number of trades in UK shares on the Exchange's markets in June 2002 increased by five per cent, from 2,659,547 trades last June to 2,792,245 this June.

The total number of UK and international shares traded increased by nine per cent in June 2002, up to 149.3 billion compared with 136.7 billion in June 2001. The daily average increased by 28 per cent from 6.5 billion shares per day in June 2001 to 8.3 billion in June 2002.

There were 20 new issues on the main market and AIM during June 2002. Of these 13 were IPOs, compared with 10 in June 2001. The IPOs this June raised £1,259.7 million between them, 52 per cent more than the £827.5 million raised by IPOs in June 2001. On 26 June 2002, PRI Group plc completed the largest ever IPO on AIM, raising £130.8 million.

In the first six months of 2002 a total of 29 UK main market IPOs raised £4,260.2 million, 67 per cent more than the £2,546.5 million raised by 37 IPOs in the same period last year.