Karen Snow, the global head of listings at Nasdaq, predicts that the trend of UK companies seeking funds in the US will persist. Following the successful listing of Cambridge-based chip designer Arm Holdings on Nasdaq, which raised $4.87 billion, Snow anticipates more UK tech firms will follow suit.
The Nasdaq raised $13 billion in 2023, overshadowing the London Stock Exchange’s $972 million. Snow reveals ongoing conversations with UK companies exploring Nasdaq listings, suggesting a potential shift away from the London financial market.
1. Karen Snow, Nasdaq‘s global head of listings, foresees a continued trend of UK companies opting for US listings.
2. Arm Holdings, a Cambridge-based chip designer, raised $4.87 billion on Nasdaq, despite lobbying to list in London.
3. Nasdaq outperformed the London Stock Exchange, raising $13 billion in 2023, while the LSE raised $972 million.
4. The London Stock Exchange is projected to fall below the $1 billion mark for the first time in 2023, signalling a significant shift.
5. Nasdaq is actively engaging in conversations with UK companies to encourage listings and fund-raising in the US.
6. Recent movies, including Tui’s consideration to quit the LSE and Flutter listing its shares in the US, highlight a trend of companies distancing themselves from London.
7. The perceived higher valuations on US stock exchanges and UK investors’ relative risk aversion contribute to the appeal of US listings for international firms.
