Nasdaq actively seeking additional UK companies to list in the US

According to Karen Snow, the global head of listings at Nasdaq, the trend of UK companies raising funds in New York will continue. Nasdaq successfully attracted chip designer Arm Holdings to float on their exchange, raising $4.87bn. Despite lobbying for the shares to be listed in London, Arm chose Nasdaq instead. Data from Dealogic suggests that this year may be the first time that the London Stock Exchange (LSE) fails to reach the $1bn mark for money raised since 1995. Snow agrees that the success of Arm listing on Nasdaq indicates a trend of UK companies being lured away from their home financial market. She mentions having several conversations to encourage more UK companies to raise money through a Nasdaq listing. The LSE is crucial to London's position as a financial capital and supports financial services jobs. The government has been implementing post-Brexit reforms to improve London's attractiveness compared to rivals like Paris and Frankfurt, but these have been criticized as ineffective. Recently, several companies have moved their listings away from London or hinted at doing so. Tui is considering leaving the LSE for a single listing in Frankfurt, Flutter will list its shares in the US, and CRH, Ferguson, and Shein have shifted their listings to the US. Helena Morrissey, a finance veteran, believes that while London is still innovative, it feels less confident due to decisions to list elsewhere. She suggests that UK investors are more risk averse than their American counterparts, contributing to an image problem for UK equities. Morrissey emphasizes the need for self-belief in investing in Britain based on reality rather than just a PR campaign.