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Warning: London Stock Exchange boss Julia Hoggett
The head of the London Stock Exchange has warned companies tempted to move their listing from the UK to the US that “the grass is not always greener”.
Julia Hoggett said the financial market needed to stop “eating itself” and urged businesses to recognize the virtues of the Square Mile.
‘Most countries in the world would aspire to have the capital markets that we have. But we don’t sit on our laurels,” he added.
Hoggett, who took over the stock exchange in 2021, also warned that companies that defect to New York could live to regret it.
‘We have looked at what is happening with UK companies that have raised over £100m and are going to the US. There have only been 20 in the last ten years.
“Eight have already left the list, only four are trading up and the rest are down by an average of 80 percent.”
His comments come at a time of concern that more companies could move into the US market.
Gaming giant Flutter moved its main stock market listing to New York earlier this year.
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