Exodus From London To New York: Why More Companies Are Seeking US Stock Listings
Portfolio Pulse from Neil Dennis
A growing number of companies are transitioning their primary stock listings from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE) or Nasdaq, driven by the pursuit of deeper capital markets, greater liquidity, and a larger investor base in the U.S. Notable migrations include Indivior Plc, Ferguson Plc, CRH plc, and Arm Holdings. This trend underscores the challenges facing the LSE, including lower market capitalization and a struggling IPO market compared to the U.S.
February 22, 2024 | 5:16 pm
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Arm Holdings, a Softbank-owned chip designer, chose Nasdaq for its re-listing, marking a significant departure from the LSE.
Arm's decision to list on Nasdaq could significantly enhance its visibility among tech investors and increase its stock liquidity, positively affecting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
CRH plc moved its primary listing from the LSE to the NYSE, driven by North America being its largest market and a key growth area.
The relocation to the NYSE is expected to benefit CRH plc by aligning its stock listing with its primary market, likely attracting more U.S. investors and positively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Ferguson Plc switched its primary listing from the LSE to the NYSE, aligning its listing location with its main market and operational base in the U.S.
Given Ferguson's operational base and main market are in the U.S., the NYSE listing is likely to enhance its visibility and appeal to U.S. investors, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Indivior Plc announced its intention to seek a primary listing in New York, moving away from the LSE.
The move to a U.S. listing could potentially open up Indivior to a larger investor base and greater liquidity, likely positively impacting its stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90