By Philip Waller

LONDON--The value of initial public offerings, or IPOs, in London fell to its lowest level in four years in the third quarter because of uncertainty around the U.K.'s vote to leave the European Union, a survey showed Tuesday.

New listings on the main market and the Alternative Investment Market, or AIM, totaled 948 million pounds ($1.16 billion), down 42% on the year-earlier period, according to research by Henderson Managed Investment Trusts. This was the lowest quarterly total since 2012.

The value of IPOs in the first nine months of the year was GBP9.9 billion, down 16% from the same period a year ago, and the lowest since 2012, when a slowing economy and fears of a double-dip recession hit investor confidence.

In the first nine months of this year, 41 IPOs occurred, which was also the lowest level since 2012, the report said.

"The chilling effect of the Brexit vote noticeably cooled companies' enthusiasm to list on the stock market and we have yet to see IPO activity reheat, despite market conditions settling somewhat," Colin Hughes of Henderson Opportunities Trust said.

After eight main market IPOs in the first half, flotation activity ground to a halt in June as fears over market volatility and the EU referendum dampened issuers' enthusiasm.

In total, just nine IPOs have taken place since the referendum, with only four of these on the main market in the last three months.

A number of companies have shelved plans, due to market volatility and referendum uncertainty, including gym operator Pure Gym and outdoor goods retailer Mountain Warehouse.

Write to Philip Waller at philip.waller@wsj.com

(END) Dow Jones Newswires

October 24, 2016 19:15 ET (23:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.