The London Stock Exchange has fended off Asian rivals to claim second spot behind New York for flotation activity this year, buoyed by a 2,000%-plus surge in money raised through cross-border listings.

Cross-border initial public offerings on the LSE and its junior Aim market have jumped 2,307% from just $338m last year to raise $8.1bn, according to new research today from law firm Baker McKenzie, which attributed the rise largely to "pent-up demand following the Brexit vote".