The lure of deeper markets and higher valuations

(Image: Getty)

Sat, 13 Jan 2024

It was the initial public offering that drove a metaphorical stake into the heart of London's status as a global financial centre when, a few months back, the British high-tech company Arm Holdings turned its back on the UK and listed in New York.And with its share price surging 40% from the issue price since then, its investors and its advisers are doubtless well pleased. But London's ambitions of maintaining its status as a global financial centre have taken a hit. Now valued at US$65 billion (NZ$104.3b), this would have ran...

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