Nasdaq on the hunt for more UK firms to list in US
A boss at a leading US stock exchange says the trend of UK companies going to New York to raise funds will continue. Karen Snow, global head of listings at Nasdaq, helped lure Cambridge-based chip designer Arm Holdings to float on that exchange and told the BBC that other UK tech firms will follow. Arm raised $4.87bn (£3.8bn) on Nasdaq in September, despite heavy lobbying to list its shares in London instead. The Nasdaq raised $13bn in 2023 while the London Stock Exchange raised $972m. Although there has always been a significant gap between the two exchanges, this year looks set to be the first time the LSE has failed to hit the $1bn mark for money raised for companies floating on it since records began in 1995, according to data from Dealogic. 'We're getting a lot of calls' Mrs Snow agreed when asked if the Arm listing coup was indicative of a trend of her index luring UK companies away from their home financial capital market. "We're having a lot of conversati...