Double float boost for lagging London market

London's flagging IPO market had a double boost on Thursday as the capital gained its first major float of a Russian company since 2014 and a compliance firm used by most of the FTSE 100 also confirmed listing plans.

En+ Group, which manages Russian tycoon Oleg Deripaska’s aluminium and hydropower businesses, will list in London and Moscow.

It is the first big Russian coup for the capital in three years after Western countries imposed sanctions over Moscow’s role in the Ukraine crisis.

En+ will begin trading in London in November, and plans to raise around $1.5 billion (£1.1 billion). London’s pipeline of floats has slowed since the vote to leave the European Union.

But capital markets were also lifted by TMF’s plans to launch on public markets.