![]() ![]() Just take a look at some of the casualties. There are fewer rules, valuations are higher, and shareholders are more likely to back a grand vision. New York, and the Nasdaq in particular, is the world’s stock market for tech companies, and the culture is far more welcoming to ambitious entrepreneurs. Of course, it is not hard to understand why it is so appealing. For every ambitious company, and certainly for venture capital firms looking to cash in their investments, the American equity market is a lot more attractive than the British one. Flutter, which owns Betfair and Paddy Power, plans to list in New York as well as London and may move across the Atlantic completely.Įarlier this year, the building materials giant CRH switched its listing. Arm is expected to float in the American market as soon as next month, with an estimated value of up to $70bn (£55bn). The queue of ambitious British companies planning a New York listing grows longer all the time. True, some of the companies that have struggled may have run into trouble anyway, but there is no question they made life harder for themselves by listing so far from their home base. But it turns out that a New York listing may not be so great after all, with Wall Street turning into a graveyard for Britain’s best and brightest entrepreneurs. ![]()
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