Problems with new listings in London continue, with CAB Payments Holdings Ltd falling in particular as one of the biggest recent stock fiascos to debut. by 75% – now the listing of this currency transaction operator is considered the world’s worst listing this year, writes Bloomberg.

CAB Payments Holdings Ltd, which was valued at about $1 billion at the time of its IPO in July, fell sharply after reporting losses due to changes in conditions in some key currency corridors.

Its shares fell to 53.1p, more than 80% below its IPO price of 335p.

CAB Payments is not the first high-profile IPO in Britain. There were others, including Aston Martin Lagonda Global Holdings Plc, Deliveroo Plc and THG Plc, which fell sharply after going public. Meanwhile, the country’s capital market has virtually dried up new listings this year. Many firms are now choosing to debut in New York rather than London, as Cambridge-based chip designer Arm Holdings Plc has done.

Analysts believe the problems with new debuts were due to central bank intervention in the market.