LSE claims record number of listings by international companies |
|
|
Published
:
Wed, 21 Dec 2005 20:05
|
LONDON: The London Stock Exchange said 129 international companies from 29 countries listed on its main bourse and its junior Alternative Investment Market (AIM) in 2005, an 82 per cent increase over 2004. These companies raised a total 5.9 billion pounds in new issues, the highest since 2000, it added.
The exchange said the liquidity of the London market, the country's regulatory and corporate governance standards and the easy access to emerging institutional investors were the prime attractions for the international companies.
While 112 new international issues were on AIM, the main bourse attracted 17. For AIM 2005 had been a record year -- 494 companies raised 5.97 billion pounds, against 2.77 billion pounds in 2004. The main bourse had 77 companies raising 9.78 billion pounds.
The exchange said it is winning more business from the U.S. as the reforms under the Sarbanes-Oxley Act discourages a number of companies from going in for a U.S. float. Nearly 90 per cent of those companies that considered listing on a U.S. exchange felt that the demands of Sarbanes-Oxley made listing in London more attractive, it added.
LSE intends to use these figures in its fight against hostile bidders, especially Australian bank Macquarie. It had rejected the 1.49 billion-pound offer from Macquarie describing it as derisive and disregarding the quality and strength of the exchange's business, its long-term growth prospects and the re-rating of the global exchange sector.
Other suitors who have expressed interest in the exchange are the pan-European Euronext NV and Deutsche Boerse AG. The latter had subsequently withdrawn its offer.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1449.80 |
+51.73 (
3.63 %)
|
| SYMBOL (
2008-12-02 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
1347.00 |
+51.00 (
4.02 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
IBM
(
4:01pm ) |
|
79.84 |
+2.94 (
3.78 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
GOOGLE
(
4:00pm ) |
|
275.11 |
+9.12 (
3.37 %)
|
|
|
Print this Story
Centrica shares spurt over takeover rumours 