Investors see no spring thaw in the IPO market, with listings on ice due to uncertainty surrounding the UK's membership of the European Union and wider market weakness.

IPOs in Europe, the Middle East and Africa to March 21 were lower than any quarter to 2012, with $4.1 billion raised, according to Dealogic's preliminary figures for the quarter, compared with $20.6 billion in the first quarter of 2015.