RAC, the UK roadside recovery group, has pushed back its planned London IPO to late 2025, citing uncertain market conditions. Originally targeting a mid-year listing, the company now expects to finalize its flotation by year-end. This delay extends London’s IPO drought, with only a handful of firms proceeding despite earlier optimism. £5bn valuation remains the target, though final figures depend on investor appetite and geopolitical risks.

The move underscores broader challenges for UK listings, as global turbulence disrupts deal pipelines.