The “dysfunctionality” of the market for initial public offerings was a big talking point a couple of years ago. Judging by the first three months of 2014, all that was needed to get it moving again was inflows into equity funds.

A total of $6.4 billion has been raised through 10 flotations on the main market of the London Stock Exchange in the first quarter of this year, according to Dealogic, with a slew of deals pencilled in for the second quarter.