CORPORATE - The London Listings Crisis: Can Legal Reform Save The UK’s Capital Markets?
Introduction When ARM snubbed London for Nasdaq in 2023, it sent shockwaves through the City. Within a year, CRH had shifted its primary listing to New York, and Flutter Entertainment followed with a US primary listing in May 2024. London’s IPO market is now in freefall: just 18 IPOs raised £777.7 million in 2024, while 88 companies quit the market, the sharpest exodus since the Global Financial Crisis. Why are Britain’s most prominent names turning their backs on London? Boards cite higher...
