An initial public offering (IPO) marks a pivotal milestone for any company—but it is far from the finish line. In 2025, with capital markets increasingly demanding strong governance and vigilant risk management, developing a robust Post-IPO capital markets strategy is essential. UK-listed companies must now juggle evolving regulatory frameworks, investor expectations, and strategic resilience. This article explores best practices in governance and risk oversight for companies post‑IPO, supplies the latest UK market data, and outlines how Insights UK can support you in crafting and executing a winning strategy.

UK IPO Market Context in 2025

UK IPO activity has remained modest. Through Q1 2025, only five main-market IPOs raised a combined £74.4 million—an approximate 74% drop from Q1 2024 (£288.8 million). London’ s corporate listings have also declined: from 1,087 in mid‑2023 to 972 by December 2024, a net reduction of 115 companies. This contraction reflects a broader investor shift towards robust governance and profitability. EY data indicates only profitable IPOs are gaining traction—Q1 2025 saw profitable IPOs jump from roughly 72% to 85% in Europe. In such a climate, a well-executed Post-IPO capital markets strategy centered on governance and risk becomes the differentiator.

Governance: Meeting Regulatory and Investor Demands

Adoption of the 2024 UK Corporate Governance Code

The revised UK Corporate Governance Code is effective for fiscal years starting January 1, 2025, with the new Provision 29 coming into effect on January 1, 2026. This updated Code mandates that boards publicly declare the effectiveness of material risk and internal control systems in the annual report—and describe any deficiencies and remedial actions. This transparency forms part of a Post-IPO capital markets strategy to build trust and accountability, signaling discipline and oversight to investors.

Board Composition and Committee Structure

To demonstrate governance strength, boards must ensure independent leadership, diverse representation, and dedicated risk oversight. The revised Code emphasizes board diversity, including gender and ethnicity, and the establishment of audit and risk committees that actively supervise internal controls. Having a formal risk committee—or delegating oversight to the audit committee—is seen as best practice, consistent with the Code’s focus on robust governance as part of a Post-IPO capital markets strategy.

Risk Management & Controls: The Heart of Strategy

Implementing Provision 29

Provision 29 requires boards to monitor risk frameworks throughout the year, conduct annual effectiveness reviews, and report findings in the annual report. This mirrors principles of continuous risk oversight rather than periodic compliance exercises. Companies are advised to adopt enterprise risk management (ERM) systems, regular board reports, and automated testing platforms that provide real-time assurance.

Addressing Emerging and Operational Risks

In 2025, risk landscapes are shifting—cybersecurity threats, geopolitical volatility, and climate risks dominate boardroom concerns. TCFD-aligned disclosures have become mandatory, and climate-related risks must integrate into internal control frameworks. Companies should extend their risk registers to third- and fourth-party exposures and conduct failover scenario planning—steps that fit squarely within a Post-IPO capital markets strategy anchored in resilience.

Financial Discipline & Reporting Excellence

Post-IPO firms must reconcile IPO-era forecasts with ongoing financial performance. Mismatches between projections and execution may prompt price-sensitive market disclosures. Investors now demand transparent reporting, timely updates, and alignment between strategy and outcomes. Enhanced internal controls reduce reporting risk and reinforce credibility—cornerstones of an effective Post-IPO capital markets strategy.

Investor Relations: Trust Through Transparency

Investor relations (IR) strategies are an integral part of the broader Post-IPO capital markets strategy. Consistent governance, proactive disclosure, and structured IR engagement—roadshows, regular webinars, and reporting cadence—are vital to rebuilding investor confidence following a low IPO year. Utilizing the components of the new Governance Code as confidence-building signals, companies can attract long-term institutional investors, sustaining share price and liquidity.

2025 Quantitative Data: UK Market Highlights

Annual Governance Adoption: Companies must begin reporting in accordance with the revised Code in FY2025, with Provision 29 disclosures due from FY2026.

• IPO Funding: Five UK IPOs in Q1 2025 raised c.£74.4m—down 74% from £288.8m a year earlier.
• Listing Decline: Main-list firms dropped by 115 (1,087 → 972) between mid-2023 and December 2024.
• Profit Focused Listings: 85% of European IPOs in Q1 2025 were profitable at launch, up from 72% in Q1 2024.

These data underscore that UK capital markets reward governance and discipline—foundational elements of any Post-IPO capital markets strategy.

Strategic Recommendations for Post‑IPO Success

1. Early Governance Alignment: Audit and board oversight should be aligned now—not later—to adopt the 2024 Code and prepare for Provision 29 in FY2026.
2. Continuous Risk Monitoring: Implement ERM systems, schedule quarterly board reviews, and develop dashboards affirming controls’ health monthly.
3. Transparent Financial Reporting: Ensure alignment between IPO forecasts and ongoing disclosures; document controls supporting financial integrity.
4. Enhanced Controls Framework: Integrate control testing (financial, operational, compliance) and ensure escalation mechanisms are in place.
5. Active ESG and TCFD Disclosure: Begin integrating climate and diversity KPIs into board reporting and link oversight to remuneration.
6. Proactive IR Programme: Maintain quarterly investor outreach, issue governance updates, and engage proxy advisers ahead of annual meetings.
7. Scenario Planning & Resilience: Conduct table-top exercises for cyber, operational, and market shocks; formalize ALCO-level contingency plans.

These steps embed governance and risk into the core of a Post-IPO capital markets strategy, positioning listed companies to outperform.

How Insights UK Can Help

Insights UK offers specialized consultancy for each stage of this journey:

• Code & Controls Advisory: We align board structures, committee charters, and control frameworks with 2024 Code requirements and build readiness for Provision 29.
• ERM & Risk Technology: We implement ERM systems, operating controls dashboards, and internal audit routines that support real-time board oversight.
• Financial Process Enhancements: We work with finance teams to integrate IPO-era projections into current disclosure frameworks, ensuring consistent narrative and compliance.
• ESG Reporting Guidance: We design TCFD-aligned disclosures, help link ESG performance to executive incentives, and frame governance messaging for investors.
• Investor Relations Strategy: We build IR roadmaps, prepare governance-focused presentations, engage proxy advisors, and support investor communications to rebuild confidence.
• Resilience & Scenario Planning: We facilitate cyber and financial stress-testing, tying them to governance committee oversight and ongoing board assessment.

With deep experience in London advisory circles, Insights UK helps embed governance and risk into your Post-IPO capital markets strategy, ensuring compliance, confidence, and institutional credibility.

In 2025, a successful IPO is defined by post-listing resilience. A deliberate Post-IPO capital markets strategy—rooted in governance excellence and risk-aware culture—is now a business imperative. The UK’s market recovery rewards companies who demonstrate disciplined oversight, transparent reporting, and forward-looking controls.

By creating strong board structures, integrating internal controls through Provision 29 preparedness, and engaging investors proactively, companies position themselves for sustainable growth and enhanced valuation. Insights UK can partner with you at every stage—offering governance design, ERM implementation, ESG framework-building, and IR strategy—to ensure your Post-IPO capital markets strategy is both compliant and competitive.